PHINIA Inc. (NYSE:PHIN) is Banyan Capital Management Inc.’s 6th Largest Position

Banyan Capital Management Inc. lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 238,351 shares of the company’s stock after selling 3,445 shares during the quarter. PHINIA accounts for 6.9% of Banyan Capital Management Inc.’s holdings, making the stock its 6th biggest holding. Banyan Capital Management Inc. owned approximately 0.57% of PHINIA worth $11,481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Segall Bryant & Hamill LLC bought a new stake in PHINIA in the third quarter worth about $1,073,000. Royce & Associates LP bought a new stake in shares of PHINIA during the 3rd quarter worth approximately $695,000. Swedbank AB boosted its holdings in PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after acquiring an additional 41,200 shares during the period. Foundry Partners LLC bought a new position in PHINIA in the 3rd quarter valued at $7,911,000. Finally, MetLife Investment Management LLC increased its stake in PHINIA by 115.3% in the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company’s stock worth $1,141,000 after purchasing an additional 13,277 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of PHINIA stock opened at $53.22 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $49.77 and its 200-day moving average price is $48.72. The firm has a market cap of $2.17 billion, a P/E ratio of 30.41 and a beta of 1.35. PHINIA Inc. has a 12 month low of $31.26 and a 12 month high of $57.23.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $833.00 million for the quarter, compared to the consensus estimate of $811.94 million. On average, equities research analysts expect that PHINIA Inc. will post 4.45 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.03%. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is presently 57.14%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Northland Securities initiated coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, Northland Capmk raised shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th.

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.