Gabelli Funds LLC Sells 1,800 Shares of PHINIA Inc. (NYSE:PHIN)

Gabelli Funds LLC lessened its position in PHINIA Inc. (NYSE:PHIN) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,200 shares of the company’s stock after selling 1,800 shares during the period. Gabelli Funds LLC owned about 0.16% of PHINIA worth $3,189,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Jane Street Group LLC grew its holdings in PHINIA by 297.0% during the third quarter. Jane Street Group LLC now owns 24,516 shares of the company’s stock worth $1,128,000 after purchasing an additional 18,341 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of PHINIA by 352.8% in the third quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company’s stock valued at $1,771,000 after buying an additional 29,977 shares during the last quarter. Barclays PLC boosted its stake in shares of PHINIA by 336.2% during the 3rd quarter. Barclays PLC now owns 72,805 shares of the company’s stock worth $3,351,000 after acquiring an additional 56,114 shares during the period. Tidal Investments LLC acquired a new position in shares of PHINIA during the 3rd quarter worth approximately $527,000. Finally, Principal Financial Group Inc. raised its stake in PHINIA by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,422 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Price Performance

Shares of PHINIA stock opened at $41.24 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 23.56 and a beta of 1.56. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The company has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $47.83.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $833.00 million during 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%. Analysts forecast that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 2.62%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio is presently 61.71%.

Analysts Set New Price Targets

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