Jacobs Levy Equity Management Inc. Sells 35,336 Shares of PHINIA Inc. (NYSE:PHIN)

Jacobs Levy Equity Management Inc. lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 981,266 shares of the company’s stock after selling 35,336 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 2.33% of PHINIA worth $47,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank boosted its holdings in PHINIA by 1.7% in the fourth quarter. Commerce Bank now owns 13,696 shares of the company’s stock worth $660,000 after acquiring an additional 231 shares in the last quarter. Mariner LLC boosted its holdings in PHINIA by 1.3% in the fourth quarter. Mariner LLC now owns 19,739 shares of the company’s stock worth $951,000 after acquiring an additional 245 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PHINIA by 5.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company’s stock worth $331,000 after acquiring an additional 373 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in PHINIA by 149.3% in 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 in the last quarter. Finally, KBC Group NV boosted its holdings in 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 acquiring an additional 685 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. Bank of America initiated coverage on PHINIA in a report on Thursday, April 10th. They issued a “buy” rating and a $53.00 price target for the company. Northland Securities initiated coverage on PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. CL King initiated coverage on PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 price objective for the company. Finally, BNP Paribas cut PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PHINIA presently has an average rating of “Moderate Buy” and an average target price of $51.50.

Insider Activity at PHINIA

In other PHINIA news, CEO Brady D. Ericson acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

PHINIA Trading Down 0.5%

Shares of NYSE:PHIN opened at $41.75 on Monday. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $57.23. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 23.86 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $41.76 and a 200-day moving average price of $47.44.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $796.00 million for the quarter, compared to analysts’ expectations of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.27 per share. This is a boost from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is currently 61.36%.

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.