PHINIA Inc. (NYSE:PHIN) Stock Holdings Increased by Jane Street Group LLC

Jane Street Group LLC boosted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 426.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,966 shares of the company’s stock after purchasing an additional 104,450 shares during the period. Jane Street Group LLC’s holdings in PHINIA were worth $6,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock worth $98,653,000 after buying an additional 253,345 shares during the last quarter. First Trust Advisors LP raised its holdings in PHINIA by 32.6% in the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock valued at $89,928,000 after acquiring an additional 458,650 shares in the last quarter. Voss Capital LP lifted its position in shares of PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock worth $68,261,000 after acquiring an additional 342,081 shares during the period. American Century Companies Inc. increased its position 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 valued at $68,120,000 after purchasing an additional 110,931 shares during the period. Finally, LSV Asset Management raised its stake in shares of PHINIA by 6.0% in the fourth quarter. LSV Asset Management now owns 832,236 shares of the company’s stock valued at $40,089,000 after purchasing an additional 46,919 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHIN stock opened at $41.75 on Friday. The stock’s fifty day moving average is $41.76 and its 200-day moving average is $47.40. 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 Inc. has a 52 week low of $36.25 and a 52 week high of $57.23. The stock has a market capitalization of $1.66 billion, a PE ratio of 23.86 and a beta of 1.59.

PHINIA (NYSE:PHIN) last announced its earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. PHINIA’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities research analysts expect 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 paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, February 28th. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is 61.36%.

Insider Buying and Selling

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. The trade was a 2.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Bank of America began coverage on PHINIA in a report on Thursday, April 10th. They set a “buy” rating and a $53.00 price objective on the stock. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 target price for the company. Finally, UBS Group reaffirmed a “neutral” rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

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.