Bryce Point Capital LLC Takes Position in PHINIA Inc. (NYSE:PHIN)

Bryce Point Capital LLC purchased a new position in shares of PHINIA Inc. (NYSE:PHIN) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,629 shares of the company’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in PHINIA by 2.4% during the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock worth $674,000 after acquiring an additional 345 shares during the period. Smartleaf Asset Management LLC grew its stake in PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after purchasing an additional 418 shares during the period. KBC Group NV boosted its stake in 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. grew its position in shares of PHINIA by 0.4% during the 4th 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 period. Finally, JPMorgan Chase & Co. grew its holdings in PHINIA by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company’s stock valued at $27,054,000 after purchasing an additional 1,603 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 4.2 %

NYSE PHIN opened at $38.03 on Friday. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. The stock has a market capitalization of $1.55 billion, a PE ratio of 21.73 and a beta of 1.55. 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 business’s 50-day moving average is $46.98 and its 200 day moving average is $48.51.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $811.94 million. Sell-side analysts forecast that PHINIA Inc. will post 4.21 earnings per share 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 $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.84%. This is a boost from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is currently 61.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. UBS Group upped their price target on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, CL King started coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $55.50.

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.