Invesco Ltd. Has $25.48 Million Stake in PHINIA Inc. (NYSE:PHIN)

Invesco Ltd. reduced its position in PHINIA Inc. (NYSE:PHIN) by 12.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 528,885 shares of the company’s stock after selling 77,995 shares during the quarter. Invesco Ltd.’s holdings in PHINIA were worth $25,476,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV boosted its position in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after buying an additional 685 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of PHINIA during the fourth quarter worth $173,000. State of Michigan Retirement System acquired a new position in shares of PHINIA during the fourth quarter worth $203,000. Finally, Magnetar Financial LLC bought a new position in shares of PHINIA in the 4th quarter valued at $264,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Price Performance

PHINIA stock opened at $41.24 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 23.56 and a beta of 1.56. The stock’s 50 day moving average is $44.40 and its 200 day moving average is $47.80. 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 Inc. has a one year low of $36.25 and a one year high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. As a group, research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. This is an increase from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is presently 61.71%.

Analyst Upgrades and Downgrades

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

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.