Flputnam Investment Management Co. Sells 2,340 Shares of PHINIA Inc. (NYSE:PHIN)

Flputnam Investment Management Co. lowered its stake in PHINIA Inc. (NYSE:PHIN) by 14.5% during the fourth quarter, Holdings Channel reports. The firm owned 13,775 shares of the company’s stock after selling 2,340 shares during the period. Flputnam Investment Management Co.’s holdings in PHINIA were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHIN. Vanguard Group Inc. bought a new stake in PHINIA during the third quarter worth $142,304,000. Pacer Advisors Inc. lifted its position in shares of PHINIA by 58.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock worth $71,187,000 after buying an additional 865,016 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in PHINIA in the third quarter valued at about $56,398,000. Harris Associates L P bought a new position in PHINIA in the third quarter valued at about $53,654,000. Finally, LSV Asset Management acquired a new position in PHINIA during the third quarter worth about $19,461,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Ratings Changes

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

PHINIA Stock Up 2.3 %

Shares of NYSE:PHIN opened at $37.27 on Friday. PHINIA Inc. has a 52-week low of $23.46 and a 52-week high of $40.12. The company has a fifty day moving average of $35.82 and a 200-day moving average of $30.51. The company has a current ratio of 1.68, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The business had revenue of $882.00 million during the quarter, compared to the consensus estimate of $900.00 million. During the same quarter last year, the business earned $1.75 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts forecast that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.68%.

PHINIA 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.