Royce & Associates LP Grows Stake in PHINIA Inc. $PHIN

Royce & Associates LP grew its stake in shares of PHINIA Inc. (NYSE:PHIN) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,290 shares of the company’s stock after acquiring an additional 7,841 shares during the quarter. Royce & Associates LP’s holdings in PHINIA were worth $3,121,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Rock Creek Group LP grew its position in PHINIA by 16.8% during the 2nd quarter. Rock Creek Group LP now owns 40,891 shares of the company’s stock valued at $1,819,000 after purchasing an additional 5,891 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of PHINIA by 76.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,151 shares of the company’s stock worth $7,021,000 after buying an additional 52,957 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of PHINIA by 736.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 35,170 shares of the company’s stock worth $2,022,000 after buying an additional 30,966 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in shares of PHINIA during the third quarter valued at approximately $1,915,000. Finally, Assenagon Asset Management S.A. purchased a new position in PHINIA in the 3rd quarter worth about $3,866,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $69.66 on Friday. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $81.11. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 21.43 and a beta of 1.36. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $70.69 and a 200 day moving average of $61.07.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). The business had revenue of $889.00 million during the quarter, compared to the consensus estimate of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, 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 will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $0.30 per share. This is a boost from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. PHINIA’s dividend payout ratio is presently 33.23%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PHIN. Freedom Capital downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Northland Securities set a $93.00 target price on shares of PHINIA in a research report on Friday, February 13th. UBS Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of PHINIA in a research report on Friday, February 13th. Finally, Wall Street Zen raised PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.