Illinois Municipal Retirement Fund Decreases Stake in PHINIA Inc. (NYSE:PHIN)

Illinois Municipal Retirement Fund reduced its holdings in PHINIA Inc. (NYSE:PHIN) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,247 shares of the company’s stock after selling 723 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of PHINIA worth $1,168,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new stake in shares of PHINIA in the 3rd quarter worth approximately $1,073,000. Royce & Associates LP bought a new stake in shares of PHINIA in the 3rd quarter worth approximately $695,000. Swedbank AB grew its position in shares of PHINIA by 161.2% in the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after buying an additional 41,200 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of PHINIA during the third quarter valued at approximately $7,911,000. Finally, MetLife Investment Management LLC boosted its position in shares of PHINIA by 115.3% during the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock valued at $1,141,000 after purchasing an additional 13,277 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors.

PHINIA Trading Down 0.0 %

PHINIA stock opened at $49.28 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $49.80 and its two-hundred day simple moving average is $49.13. PHINIA Inc. has a 12 month low of $33.72 and a 12 month high of $57.23. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 28.16 and a beta of 1.35.

PHINIA (NYSE:PHIN) last released its earnings results on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. As a group, equities analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.19%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. PHINIA’s payout ratio is 61.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PHIN shares. UBS Group lifted 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 started coverage on PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price target on the stock. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th.

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.