American Century Companies Inc. Raises Stock Position in PHINIA Inc. (NYSE:PHIN)

American Century Companies Inc. boosted its stake in shares of PHINIA Inc. (NYSE:PHIN) by 8.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,414,155 shares of the company’s stock after purchasing an additional 110,931 shares during the period. American Century Companies Inc.’s holdings in PHINIA were worth $68,120,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after acquiring an additional 418 shares during the period. KBC Group NV grew its stake in shares of PHINIA by 45.8% during the 4th 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 period. AlphaQuest LLC purchased a new position in shares of PHINIA during the 4th quarter valued at approximately $173,000. State of Michigan Retirement System acquired a new position in shares of PHINIA in the 4th quarter valued at $203,000. Finally, Paloma Partners Management Co purchased a new stake in PHINIA during the third quarter worth $258,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Up 0.3 %

PHIN opened at $45.34 on Wednesday. The company has a market cap of $1.85 billion, a PE ratio of 25.91 and a beta of 1.38. PHINIA Inc. has a twelve month low of $36.10 and a twelve month high of $57.23. The company has a 50-day moving average price of $48.35 and a 200 day moving average price of $48.73. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last announced 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 firm had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a 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 payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

PHIN has been the subject of a number of recent analyst reports. UBS Group lifted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. CL King assumed coverage on PHINIA in a research note on Monday. They issued a “buy” rating and a $54.00 price target for the company. Northland Securities initiated 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PHINIA currently has a consensus rating of “Buy” and an average target price of $55.50.

About PHINIA

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.