PHINIA Inc. (NYSE:PHIN) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its holdings in PHINIA Inc. (NYSE:PHIN) by 30,454.5% during the fourth quarter, Holdings Channel reports. The fund owned 13,444 shares of the company’s stock after buying an additional 13,400 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in PHINIA were worth $648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PHIN. State of New Jersey Common Pension Fund D purchased a new position in PHINIA during the second quarter valued at approximately $1,663,000. Dimensional Fund Advisors LP increased its holdings in shares of PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after purchasing an additional 215,150 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of PHINIA by 61.4% in the 2nd quarter. Renaissance Technologies LLC now owns 61,000 shares of the company’s stock valued at $2,401,000 after purchasing an additional 23,200 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in PHINIA during the second quarter valued at $204,000. Finally, Canada Pension Plan Investment Board acquired a new stake in PHINIA during the second quarter valued at $2,397,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

NYSE:PHIN opened at $50.79 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The stock has a market capitalization of $2.14 billion, a PE ratio of 21.80 and a beta of 1.35. PHINIA Inc. has a fifty-two week low of $28.88 and a fifty-two week high of $57.23. The company has a fifty day moving average of $51.23 and a two-hundred day moving average of $47.68.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, research analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, November 25th. PHINIA’s payout ratio is 42.92%.

Analyst Ratings Changes

PHIN has been the topic of several recent analyst reports. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th. UBS Group raised their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th.

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.