PHINIA Inc. (NYSE:PHIN) Shares Sold by Shelton Capital Management

Shelton Capital Management trimmed its stake in PHINIA Inc. (NYSE:PHIN) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,835 shares of the company’s stock after selling 343 shares during the period. Shelton Capital Management’s holdings in PHINIA were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHIN. Smartleaf Asset Management LLC raised its position in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV increased its holdings in shares of PHINIA by 45.8% in the 4th quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of PHINIA in the 4th quarter valued at about $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA in the fourth quarter valued at about $203,000. Finally, Magnetar Financial LLC purchased a new stake in PHINIA during the fourth quarter worth about $264,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

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

PHINIA (NYSE:PHIN) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. On average, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. 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 dividend yield of 2.81%. PHINIA’s payout ratio is 61.71%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PHIN. UBS Group reissued 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. Bank of America initiated coverage on PHINIA in a research report on Thursday. They set a “buy” rating and a $53.00 target price on the stock. Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. CL King started coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price target for the company. Finally, Northland Securities started coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective on the stock. Two equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

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.