Norges Bank Makes New Investment in PHINIA Inc. (NYSE:PHIN)

Norges Bank purchased a new position in shares of PHINIA Inc. (NYSE:PHINFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 557,805 shares of the company’s stock, valued at approximately $16,896,000. Norges Bank owned 1.19% of PHINIA as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PHIN. Vanguard Group Inc. acquired a new position in PHINIA during the third quarter worth about $142,304,000. Pacer Advisors Inc. grew its holdings in shares of PHINIA by 58.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock worth $71,187,000 after acquiring an additional 865,016 shares during the period. Cooper Creek Partners Management LLC purchased a new position in PHINIA in the 3rd quarter valued at approximately $56,398,000. Harris Associates L P acquired a new position in PHINIA during the third quarter worth $53,654,000. Finally, LSV Asset Management boosted its position in PHINIA by 5.8% during the fourth quarter. LSV Asset Management now owns 768,510 shares of the company’s stock worth $23,278,000 after purchasing an additional 42,080 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on PHIN

PHINIA Trading Up 1.1 %

Shares of NYSE:PHIN opened at $45.25 on Tuesday. The business has a fifty day simple moving average of $40.94 and a 200-day simple moving average of $34.27. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $46.08.

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

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%.

PHINIA Company 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.

Recommended Stories

Want to see what other hedge funds are holding PHIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PHINIA Inc. (NYSE:PHINFree Report).

Institutional Ownership by Quarter for PHINIA (NYSE:PHIN)

Receive News & Ratings for PHINIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PHINIA and related companies with MarketBeat.com's FREE daily email newsletter.