Ninety One UK Ltd Sells 24,779 Shares of PHINIA Inc. (NYSE:PHIN)

Ninety One UK Ltd lessened its stake in shares of PHINIA Inc. (NYSE:PHIN) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 570,217 shares of the company’s stock after selling 24,779 shares during the period. Ninety One UK Ltd owned about 1.22% of PHINIA worth $17,272,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Oakworth Capital Inc. acquired a new position in PHINIA during the third quarter worth approximately $27,000. Whittier Trust Co. bought a new position in PHINIA during the 3rd quarter worth $29,000. Truvestments Capital LLC bought a new position in PHINIA during the 3rd quarter worth $35,000. Fifth Third Bancorp bought a new position in PHINIA during the 3rd quarter worth $42,000. Finally, Earnest Partners LLC acquired a new stake in PHINIA during the 3rd quarter worth about $42,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Trading Up 2.3 %

Shares of NYSE PHIN opened at $37.27 on Friday. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $40.12. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $35.82 and its 200 day simple moving average is $30.51.

PHINIA (NYSE:PHIN) last posted its earnings results on Wednesday, February 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $882.00 million for the quarter, compared to the consensus estimate of $900.00 million. During the same period in the prior year, the business earned $1.75 EPS. PHINIA’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts forecast that PHINIA Inc. will post 4.05 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.68%.

Analyst Ratings Changes

Separately, Morgan Stanley started coverage on PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price for the company.

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.