PHINIA Inc. (NYSE:PHIN) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its holdings in PHINIA Inc. (NYSE:PHIN) by 35.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 97,852 shares of the company’s stock after purchasing an additional 25,532 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in PHINIA were worth $4,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of PHINIA during the 3rd quarter valued at $390,000. FMR LLC raised its position in shares of PHINIA by 7.2% during the third quarter. FMR LLC now owns 86,817 shares of the company’s stock worth $3,996,000 after purchasing an additional 5,828 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of PHINIA by 115.3% during the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock valued at $1,141,000 after purchasing an additional 13,277 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of PHINIA in the 3rd quarter valued at $301,000. Finally, Paloma Partners Management Co purchased a new position in PHINIA in the 3rd quarter worth about $258,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PHINIA Stock Up 2.5 %

PHINIA stock opened at $44.00 on Thursday. PHINIA Inc. has a twelve month low of $36.10 and a twelve month high of $57.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The firm has a market cap of $1.80 billion, a PE ratio of 25.14 and a beta of 1.55. The firm’s 50 day moving average price is $47.44 and its two-hundred day moving average price is $48.63.

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

PHINIA Increases Dividend

The company 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 is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.45%. PHINIA’s payout ratio is presently 61.71%.

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.