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

Ninety One UK Ltd trimmed its stake in PHINIA Inc. (NYSE:PHIN) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 570,217 shares of the company’s stock after selling 24,779 shares during the quarter. Ninety One UK Ltd’s holdings in PHINIA were worth $17,272,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PHIN. Gladius Capital Management LP bought a new stake in PHINIA in the third quarter worth $133,000. AE Wealth Management LLC bought a new stake in PHINIA in the third quarter worth $797,000. IFP Advisors Inc bought a new stake in PHINIA in the third quarter worth $88,000. Radnor Capital Management LLC bought a new stake in PHINIA in the third quarter worth $360,000. Finally, SG Americas Securities LLC bought a new stake in PHINIA in the third quarter worth $2,207,000. 90.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley initiated coverage on PHINIA in a report on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price on the stock.

PHINIA Stock Up 2.3 %

Shares of NYSE:PHIN opened at $37.27 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38. PHINIA Inc. has a 1 year low of $23.46 and a 1 year high of $40.12. The stock’s fifty day moving average price is $35.82 and its 200-day moving average price is $30.51.

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

PHINIA Dividend Announcement

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

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.