Arizona State Retirement System Has $611,000 Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Arizona State Retirement System decreased its stake in PHINIA Inc. (NYSE:PHIN) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,676 shares of the company’s stock after selling 478 shares during the period. Arizona State Retirement System’s holdings in PHINIA were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PHIN. Smartleaf Asset Management LLC grew its stake in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV boosted its holdings in shares of PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares during the last quarter. State of Michigan Retirement System bought a new position in shares of PHINIA in the fourth quarter valued at $203,000. Paloma Partners Management Co acquired a new position in PHINIA during the third quarter worth $258,000. Finally, Verition Fund Management LLC bought a new stake in PHINIA during the third quarter worth $301,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PHIN shares. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Finally, UBS Group boosted their price target on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th.

PHINIA Trading Up 5.5 %

PHIN stock opened at $42.95 on Friday. PHINIA Inc. has a one year low of $35.84 and a one year high of $57.23. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 24.54 and a beta of 1.38. The company has a fifty day moving average price of $49.00 and a two-hundred day moving average price of $48.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. Equities analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.51%. PHINIA’s dividend payout ratio is presently 61.71%.

PHINIA 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.