American Century Companies Inc. Buys 110,931 Shares of PHINIA Inc. (NYSE:PHIN)

American Century Companies Inc. increased its stake in shares of PHINIA Inc. (NYSE:PHIN) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,414,155 shares of the company’s stock after acquiring an additional 110,931 shares during the quarter. American Century Companies Inc. owned about 3.36% of PHINIA worth $68,120,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of PHINIA by 149.3% during 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 last quarter. KBC Group NV lifted its position 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 buying an additional 685 shares in the last quarter. AlphaQuest LLC bought a new position in PHINIA during the fourth quarter valued at approximately $173,000. State of Michigan Retirement System purchased a new position in PHINIA during the 4th quarter valued at approximately $203,000. Finally, Magnetar Financial LLC bought a new stake in PHINIA in the 4th quarter worth approximately $264,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Northland Securities started coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target on the stock. CL King initiated coverage on shares of PHINIA in a research report on Monday. They set a “buy” rating and a $54.00 target price on the stock. UBS Group boosted their price objective on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $55.50.

PHINIA Stock Up 0.3 %

Shares of NYSE:PHIN opened at $45.34 on Wednesday. The business has a 50 day simple moving average of $48.35 and a two-hundred day simple moving average of $48.73. The firm has a market capitalization of $1.85 billion, a PE ratio of 25.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23.

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 for the quarter, compared to analysts’ expectations 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 firm 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 represents a $1.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio is presently 61.71%.

PHINIA 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.