Federated Hermes Inc. Purchases 2,255 Shares of PHINIA Inc. (NYSE:PHIN)

Federated Hermes Inc. boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 98,500 shares of the company’s stock after buying an additional 2,255 shares during the period. Federated Hermes Inc.’s holdings in PHINIA were worth $4,745,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV raised its stake 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 acquiring an additional 685 shares in the last quarter. AlphaQuest LLC bought a new position in shares of PHINIA in the fourth quarter worth about $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA in the 4th quarter valued at approximately $203,000. Finally, Magnetar Financial LLC bought a new stake in shares of PHINIA during the 4th quarter valued at approximately $264,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PHIN shares. Northland Securities began coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. CL King started coverage on PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price target for the company. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Bank of America began coverage on PHINIA in a report on Thursday. They issued a “buy” rating and a $53.00 target price for the company. Finally, UBS Group reissued a “neutral” rating and set a $45.00 price target (down from $56.00) on shares of PHINIA in a research note on Thursday. Two 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. Based on data from MarketBeat.com, PHINIA has a consensus rating of “Moderate Buy” and an average price target of $52.60.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $38.38 on Friday. The firm has a market cap of $1.57 billion, a PE ratio of 21.93 and a beta of 1.56. PHINIA Inc. has a 52 week low of $36.10 and a 52 week high of $57.23. The firm’s fifty day moving average is $45.37 and its 200-day moving average is $48.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.71 EPS 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 the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Sell-side analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current 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 given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is currently 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.