Mercer Global Advisors Inc. ADV Buys 1,118 Shares of PHINIA Inc. (NYSE:PHIN)

Mercer Global Advisors Inc. ADV boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 14.1% in the 4th quarter, Holdings Channel reports. The firm owned 9,034 shares of the company’s stock after buying an additional 1,118 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in PHINIA were worth $435,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Trust Advisors LP increased its holdings in PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock worth $89,928,000 after purchasing an additional 458,650 shares in the last quarter. Voss Capital LP lifted its stake in shares of PHINIA by 31.8% during the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock valued at $68,261,000 after buying an additional 342,081 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock worth $98,653,000 after purchasing an additional 253,345 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in PHINIA during the fourth quarter valued at approximately $6,874,000. Finally, American Century Companies Inc. raised its position in shares of PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock worth $68,120,000 after buying an additional 110,931 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PHINIA

In related news, CEO Brady D. Ericson purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

PHINIA Stock Performance

Shares of PHIN stock opened at $44.82 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 25.61 and a beta of 1.59. The company’s 50 day moving average is $41.72 and its 200 day moving average is $47.41. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $813.24 million. During the same quarter in the previous year, the firm posted $1.08 EPS. PHINIA’s revenue was down 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BNP Paribas downgraded PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Wednesday, April 23rd. CL King started coverage on shares of PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price for the company. Northland Capmk raised PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Northland Securities initiated coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock. Finally, UBS Group reiterated a “neutral” rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.50.

About PHINIA

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.