PHINIA Inc. (NYSE:PHIN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of PHINIA Inc. (NYSE:PHIN) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,926 shares of the company’s stock after selling 1,896 shares during the period. State of Alaska Department of Revenue owned 0.06% of PHINIA worth $1,147,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of PHINIA by 334.4% during the third quarter. Assenagon Asset Management S.A. now owns 123,571 shares of the company’s stock valued at $5,688,000 after purchasing an additional 95,123 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of PHINIA by 4,502.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after acquiring an additional 3,152 shares in the last quarter. Vest Financial LLC boosted its stake in PHINIA by 6.4% in the 3rd quarter. Vest Financial LLC now owns 29,447 shares of the company’s stock worth $1,355,000 after purchasing an additional 1,782 shares during the period. Swedbank AB grew its position in PHINIA by 161.2% during the 3rd quarter. Swedbank AB now owns 66,752 shares of the company’s stock worth $3,073,000 after purchasing an additional 41,200 shares in the last quarter. Finally, Creative Planning acquired a new stake in PHINIA during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

PHINIA Trading Down 1.0 %

Shares of NYSE:PHIN opened at $45.46 on Tuesday. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $52.19. The company has a quick ratio of 1.38, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.99 billion, a P/E ratio of 19.51 and a beta of 0.86. The firm has a fifty day moving average of $46.43 and a two-hundred day moving average of $43.94.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. During the same period in the previous year, the company earned $0.53 EPS. The firm’s revenue was down 6.4% on a year-over-year basis. On average, equities analysts expect that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PHIN shares. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock.

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.