PHINIA Inc. (NYSE:PHIN) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. raised its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,963 shares of the company’s stock after acquiring an additional 2,445 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of PHINIA worth $2,937,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PHIN. Smartleaf Asset Management LLC increased its position in shares of 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 purchasing an additional 418 shares in the last quarter. KBC Group NV increased its position in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after buying an additional 685 shares during the period. Principal Financial Group Inc. lifted its stake in 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 buying an additional 842 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PHINIA by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company’s stock valued at $27,054,000 after acquiring an additional 1,603 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of PHINIA by 29.1% during the fourth quarter. QRG Capital Management Inc. now owns 9,610 shares of the company’s stock worth $463,000 after acquiring an additional 2,168 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PHIN shares. UBS Group reiterated a “neutral” rating and set a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Northland Securities initiated coverage on PHINIA in a report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target on the stock. Bank of America began coverage on PHINIA in a research note on Thursday, April 10th. They set a “buy” rating and a $53.00 price objective for the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, CL King assumed coverage on PHINIA in a report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

PHINIA Stock Up 2.2 %

PHINIA stock opened at $39.49 on Wednesday. The stock’s 50 day moving average price is $44.90 and its 200 day moving average price is $47.91. PHINIA Inc. has a 1-year low of $36.10 and a 1-year high of $57.23. The company has a market cap of $1.57 billion, a PE ratio of 22.57 and a beta of 1.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

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

PHINIA Increases Dividend

The business also recently announced 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 is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.73%. The ex-dividend date was Friday, February 28th. PHINIA’s dividend 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.