QRG Capital Management Inc. Invests $343,000 in PHINIA Inc. (NYSE:PHIN)

QRG Capital Management Inc. acquired a new position in shares of PHINIA Inc. (NYSE:PHIN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,442 shares of the company’s stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PHIN. GAMMA Investing LLC boosted its holdings in PHINIA by 100.4% in the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the second quarter valued at approximately $49,000. EntryPoint Capital LLC acquired a new position in PHINIA in the first quarter valued at approximately $60,000. Rothschild Investment LLC acquired a new position in PHINIA in the second quarter valued at approximately $66,000. Finally, Meeder Asset Management Inc. acquired a new position in PHINIA in the second quarter valued at approximately $76,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PHIN shares. UBS Group started coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th.

PHINIA Price Performance

Shares of NYSE PHIN opened at $52.87 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $53.72. The stock has a 50 day moving average of $46.65 and a two-hundred day moving average of $44.43. The stock has a market cap of $2.22 billion, a P/E ratio of 22.69 and a beta of 0.86.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping 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 analysts’ expectations of $829.82 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, research analysts forecast that PHINIA Inc. will post 3.27 earnings per share for the current year.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s 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.