Aristeia Capital L.L.C. Raises Stock Position in PHINIA Inc. (NYSE:PHIN)

Aristeia Capital L.L.C. lifted its holdings in PHINIA Inc. (NYSE:PHIN) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,789 shares of the company’s stock after acquiring an additional 692 shares during the period. Aristeia Capital L.L.C.’s holdings in PHINIA were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PHIN. Barclays PLC grew its stake in PHINIA by 336.2% during the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after acquiring an additional 56,114 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of PHINIA during the third quarter valued at about $527,000. Principal Financial Group Inc. increased its holdings in shares of PHINIA by 1.1% in the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock worth $10,483,000 after purchasing an additional 2,422 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in PHINIA by 23.5% during the fourth quarter. CWA Asset Management Group LLC now owns 20,797 shares of the company’s stock valued at $1,002,000 after buying an additional 3,954 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock valued at $1,351,000 after buying an additional 9,442 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

Analysts Set New Price Targets

PHIN has been the subject of a number of research reports. 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. BNP Paribas lowered shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, April 23rd. UBS Group restated a “neutral” rating and set a $45.00 target price (down from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Bank of America initiated coverage on PHINIA in a research report on Thursday, April 10th. They issued a “buy” rating and a $53.00 price target for the company. Finally, Northland Securities initiated coverage on PHINIA in a report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price for the company. Three 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.50.

PHINIA Stock Up 3.6 %

Shares of NYSE PHIN opened at $41.87 on Friday. The company has a market cap of $1.67 billion, a P/E ratio of 23.93 and a beta of 1.59. The firm has a 50-day simple moving average of $42.44 and a two-hundred day simple moving average of $47.55. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. 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 (NYSE:PHIN) last posted its quarterly earnings data 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 net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $813.24 million. During the same quarter in the previous year, the firm earned $1.08 EPS. PHINIA’s revenue was down 7.8% compared to the same quarter last year. Research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.27 per share. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 2.58%. PHINIA’s dividend payout ratio (DPR) is presently 61.36%.

Insider Buying and Selling at PHINIA

In other news, CEO Brady D. Ericson bought 10,000 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. This trade represents a 2.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.