Cerity Partners LLC Sells 2,162 Shares of PHINIA Inc. (NYSE:PHIN)

Cerity Partners LLC cut its stake in PHINIA Inc. (NYSE:PHIN) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,513 shares of the company’s stock after selling 2,162 shares during the quarter. Cerity Partners LLC’s holdings in PHINIA were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PHIN. American Century Companies Inc. boosted its holdings in shares of PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock worth $68,120,000 after acquiring an additional 110,931 shares during the period. JPMorgan Chase & Co. lifted its holdings in PHINIA by 0.3% during the 4th quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company’s stock worth $27,054,000 after purchasing an additional 1,603 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in PHINIA by 1.4% in the 4th quarter. Russell Investments Group Ltd. now owns 284,663 shares of the company’s stock valued at $13,712,000 after purchasing an additional 3,878 shares during the period. Empowered Funds LLC grew its holdings in PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company’s stock valued at $11,552,000 after buying an additional 11,625 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of 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 acquiring an additional 842 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PHIN. UBS Group restated a “neutral” rating and set a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King began coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. Bank of America initiated coverage on PHINIA in a research report on Thursday, April 10th. They set a “buy” rating and a $53.00 target price for the company. Northland Capmk raised PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

PHINIA Stock Up 3.0 %

PHIN stock opened at $43.95 on Friday. The stock has a market capitalization of $1.75 billion, a P/E ratio of 25.11 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $43.75 and a 200-day moving average price of $47.72. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, equities research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is presently 61.71%.

PHINIA Company 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.