Swiss National Bank Sells 3,300 Shares of PHINIA Inc. (NYSE:PHIN)

Swiss National Bank reduced its stake in PHINIA Inc. (NYSE:PHIN) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 85,916 shares of the company’s stock after selling 3,300 shares during the quarter. Swiss National Bank’s holdings in PHINIA were worth $4,139,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new stake in PHINIA in the 3rd quarter worth approximately $390,000. Swedbank AB boosted its stake in shares of PHINIA by 161.2% during the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after purchasing an additional 41,200 shares during the period. Hancock Whitney Corp grew its holdings in shares of PHINIA by 122.0% in the third quarter. Hancock Whitney Corp now owns 56,088 shares of the company’s stock worth $2,582,000 after purchasing an additional 30,818 shares during the last quarter. FMR LLC boosted its holdings in shares of PHINIA by 7.2% in the third quarter. FMR LLC now owns 86,817 shares of the company’s stock valued at $3,996,000 after purchasing an additional 5,828 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of PHINIA by 115.3% during the 3rd quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after buying an additional 13,277 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHIN stock opened at $45.34 on Wednesday. The company has a market capitalization of $1.85 billion, a PE ratio of 25.91 and a beta of 1.38. PHINIA Inc. has a 12 month low of $36.10 and a 12 month high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm’s 50-day moving average is $48.35 and its two-hundred day moving average is $48.73.

PHINIA (NYSE:PHIN) last released 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 company had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. Analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. 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. This represents a $1.08 dividend on an annualized basis and a yield of 2.38%. PHINIA’s dividend payout ratio is 61.71%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group boosted their target price on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. CL King started coverage on PHINIA in a research note on Monday. They issued a “buy” rating and a $54.00 price target for the company. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $55.50.

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.