PHINIA Inc. (NYSE:PHIN) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 15.6% in the third quarter, HoldingsChannel reports. The fund owned 4,992 shares of the company’s stock after selling 924 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PHINIA were worth $230,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of PHINIA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after buying an additional 102,769 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of PHINIA by 15.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock valued at $343,000 after purchasing an additional 1,169 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of PHINIA in the 1st quarter valued at $519,000. UniSuper Management Pty Ltd purchased a new stake in PHINIA during the first quarter valued at about $447,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of PHINIA during the first quarter valued at approximately $60,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

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

PHINIA Stock Up 1.2 %

PHIN stock opened at $52.73 on Thursday. The company has a 50 day moving average of $47.50 and a two-hundred day moving average of $45.00. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12-month low of $25.19 and a 12-month high of $53.72. The company has a market cap of $2.22 billion, a price-to-earnings ratio of 22.63 and a beta of 0.86.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. PHINIA’s dividend payout ratio is currently 42.92%.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction dated 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 approximately $1,409,353.40. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

PHINIA 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.