AlphaQuest LLC Makes New $173,000 Investment in PHINIA Inc. (NYSE:PHIN)

AlphaQuest LLC purchased a new position in shares of PHINIA Inc. (NYSE:PHIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,584 shares of the company’s stock, valued at approximately $173,000.

Several other hedge funds also recently bought and sold shares of the stock. State of Michigan Retirement System purchased a new position in PHINIA during the fourth quarter worth $203,000. Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 418 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of PHINIA by 29.1% in the fourth quarter. QRG Capital Management Inc. now owns 9,610 shares of the company’s stock valued at $463,000 after purchasing an additional 2,168 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of PHINIA in the fourth quarter valued at $776,000. Finally, Principal Financial Group Inc. grew its position in shares of PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock valued at $11,011,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

PHIN stock opened at $42.95 on Monday. The stock has a 50-day moving average price of $48.89 and a two-hundred day moving average price of $48.88. PHINIA Inc. has a 12-month low of $36.10 and a 12-month high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.75 billion, a PE ratio of 24.54 and a beta of 1.38.

PHINIA (NYSE:PHIN) last posted its quarterly 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 net margin of 2.32% and a return on equity of 10.12%. 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 company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, February 28th. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

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

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.