Parkside Financial Bank & Trust Has $30,000 Holdings in PHINIA Inc. (NYSE:PHIN)

Parkside Financial Bank & Trust grew its stake in PHINIA Inc. (NYSE:PHIN) by 816.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 990 shares of the company’s stock after buying an additional 882 shares during the quarter. Parkside Financial Bank & Trust’s holdings in PHINIA were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new stake in shares of PHINIA in the fourth quarter worth about $709,000. Allspring Global Investments Holdings LLC increased its stake in shares of PHINIA by 29,200.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,344 shares of the company’s stock worth $71,000 after purchasing an additional 2,336 shares during the period. International Assets Investment Management LLC increased its stake in shares of PHINIA by 2,710.3% in the fourth quarter. International Assets Investment Management LLC now owns 2,726 shares of the company’s stock worth $90,000 after purchasing an additional 2,629 shares during the period. Oak Thistle LLC bought a new position in shares of PHINIA in the fourth quarter worth about $1,294,000. Finally, Financial Enhancement Group LLC increased its stake in shares of PHINIA by 3.6% in the fourth quarter. Financial Enhancement Group LLC now owns 33,289 shares of the company’s stock worth $946,000 after purchasing an additional 1,149 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Up 1.4 %

PHINIA stock opened at $38.85 on Friday. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $40.12. The company has a current ratio of 1.71, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $36.70 and its 200-day simple moving average is $31.02.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.34. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm had revenue of $863.00 million for the quarter, compared to analyst estimates of $800.00 million. PHINIA’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a yield of 2.57%.

Analysts Set New Price Targets

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

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.