Invesco Ltd. Has $25.48 Million Holdings in PHINIA Inc. (NYSE:PHIN)

Invesco Ltd. decreased its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 528,885 shares of the company’s stock after selling 77,995 shares during the quarter. Invesco Ltd. owned approximately 1.26% of PHINIA worth $25,476,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PHIN. Federated Hermes Inc. increased its position in shares of PHINIA by 2.3% during the 4th quarter. Federated Hermes Inc. now owns 98,500 shares of the company’s stock worth $4,745,000 after purchasing an additional 2,255 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in PHINIA by 1.4% during the fourth quarter. Russell Investments Group Ltd. now owns 284,663 shares of the company’s stock worth $13,712,000 after buying an additional 3,878 shares during the last quarter. Envestnet Asset Management Inc. raised its position in PHINIA by 5.7% during 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. Wells Fargo & Company MN lifted its stake in PHINIA by 6.8% in the fourth quarter. Wells Fargo & Company MN now owns 47,583 shares of the company’s stock valued at $2,292,000 after acquiring an additional 3,024 shares during the last quarter. Finally, Foundry Partners LLC grew its position in shares of PHINIA by 24.3% in the 4th quarter. Foundry Partners LLC now owns 213,563 shares of the company’s stock valued at $10,287,000 after acquiring an additional 41,699 shares during the period. Institutional investors own 90.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PHIN shares. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities began coverage on PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price for the company. UBS Group restated a “neutral” rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. CL King assumed coverage on shares of PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. Finally, Bank of America assumed coverage on shares of PHINIA in a report on Thursday, April 10th. They issued a “buy” rating and a $53.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PHINIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $41.24 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 23.56 and a beta of 1.56. The stock’s fifty day moving average price is $44.40 and its two-hundred day moving average price is $47.80. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23.

PHINIA (NYSE:PHIN) last released its quarterly 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 net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. On average, equities analysts forecast 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 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA’s payout ratio is presently 61.71%.

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.