Optimize Financial Inc Purchases Shares of 4,272 PHINIA Inc. (NYSE:PHIN)

Optimize Financial Inc acquired a new position in shares of PHINIA Inc. (NYSE:PHIN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,272 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of PHINIA by 5.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company’s stock worth $331,000 after purchasing an additional 373 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV raised its stake in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after acquiring an additional 685 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of PHINIA by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 228,584 shares of the company’s stock valued at $11,011,000 after acquiring an additional 842 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of PHINIA by 11.4% in the 4th quarter. Sterling Capital Management LLC now owns 11,408 shares of the company’s stock worth $550,000 after acquiring an additional 1,171 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

PHINIA stock opened at $38.38 on Monday. The company has a market cap of $1.53 billion, a PE ratio of 21.93 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. The company’s 50-day moving average is $45.37 and its two-hundred day moving average is $48.03.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. Equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.27 dividend. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analyst Weigh In

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