Easterly Investment Partners LLC Trims Holdings in PHINIA Inc. (NYSE:PHIN)

Easterly Investment Partners LLC reduced its stake in shares of PHINIA Inc. (NYSE:PHIN) by 72.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,470 shares of the company’s stock after selling 25,320 shares during the quarter. Easterly Investment Partners LLC’s holdings in PHINIA were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after purchasing 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 worth $105,000 after purchasing an additional 685 shares during the last quarter. AlphaQuest LLC purchased a new position in PHINIA in the 4th quarter worth about $173,000. State of Michigan Retirement System bought a new position in PHINIA during the fourth quarter valued at approximately $203,000. Finally, Magnetar Financial LLC bought a new position in shares of PHINIA during the 4th quarter valued at $264,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PHIN shares. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Northland Securities initiated coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. UBS Group raised their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, CL King began coverage on PHINIA in a report on Monday. They set a “buy” rating and a $54.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, PHINIA presently has an average rating of “Buy” and a consensus target price of $55.50.

PHINIA Stock Down 3.3 %

Shares of NYSE:PHIN opened at $44.26 on Friday. The business has a 50 day simple moving average of $48.09 and a two-hundred day simple moving average of $48.68. PHINIA Inc. has a 1 year low of $36.10 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. The firm has a market capitalization of $1.81 billion, a PE ratio of 25.29 and a beta of 1.38.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. On average, equities analysts predict 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. Shareholders of record on Friday, February 28th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a yield of 2.44%. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is currently 61.71%.

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.