Janney Montgomery Scott LLC Acquires 2,026 Shares of PHINIA Inc. (NYSE:PHIN)

Janney Montgomery Scott LLC raised its holdings in PHINIA Inc. (NYSE:PHINFree Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,497 shares of the company’s stock after buying an additional 2,026 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of PHINIA worth $803,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in PHINIA by 816.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 990 shares of the company’s stock worth $30,000 after buying an additional 882 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of PHINIA in the 3rd quarter valued at approximately $35,000. Earnest Partners LLC bought a new stake in shares of PHINIA during the third quarter valued at approximately $42,000. Allspring Global Investments Holdings LLC grew its stake in PHINIA by 29,200.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,344 shares of the company’s stock worth $71,000 after purchasing an additional 2,336 shares during the period. Finally, Logan Capital Management Inc. bought a new position in PHINIA in the third quarter worth $65,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley assumed coverage on shares of PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price on the stock.

Read Our Latest Stock Analysis on PHIN

PHINIA Stock Up 0.0 %

Shares of PHIN opened at $44.76 on Friday. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $46.08. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.71 and a quick ratio of 1.27. The business’s 50 day moving average price is $40.64 and its 200-day moving average price is $33.87.

PHINIA (NYSE:PHINGet Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.74 by $0.34. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $800.00 million. PHINIA’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts predict that PHINIA Inc. will post 4.05 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.23%.

PHINIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PHINIA (NYSE:PHIN)

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