PHINIA Inc. (NYSE:PHIN) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,963 shares of the company’s stock after acquiring an additional 2,445 shares during the period. Alliancebernstein L.P.’s holdings in PHINIA were worth $2,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PHIN. Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA in the fourth quarter worth $6,874,000. American Century Companies Inc. raised its stake in PHINIA by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock valued at $68,120,000 after purchasing an additional 110,931 shares during the last quarter. Barclays PLC lifted its holdings in PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after purchasing an additional 56,114 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of PHINIA by 352.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company’s stock worth $1,771,000 after purchasing an additional 29,977 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of PHINIA by 35.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 97,852 shares of the company’s stock worth $4,714,000 after buying an additional 25,532 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Price Performance

PHIN stock opened at $39.49 on Wednesday. The stock has a 50-day moving average price of $44.90 and a two-hundred day moving average price of $47.91. The company has a market cap of $1.57 billion, a PE ratio of 22.57 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12-month low of $36.10 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $811.94 million. As a group, research analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, February 28th. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio (DPR) is currently 61.71%.

Analyst Upgrades and Downgrades

PHIN has been the topic of a number of analyst reports. UBS Group restated a “neutral” rating and set a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Northland Securities assumed coverage on PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective on the stock. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Bank of America initiated coverage on PHINIA in a research note on Thursday, April 10th. They issued a “buy” rating and a $53.00 price target on the stock. Finally, CL King started coverage on shares of PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.60.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.