PHINIA Inc. (NYSE:PHIN) Shares Sold by Axa S.A.

Axa S.A. cut its position in PHINIA Inc. (NYSE:PHIN) by 67.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,059 shares of the company’s stock after selling 16,457 shares during the period. Axa S.A.’s holdings in PHINIA were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Merewether Investment Management LP grew its position in PHINIA by 28.2% during the 2nd quarter. Merewether Investment Management LP now owns 342,200 shares of the company’s stock worth $13,469,000 after purchasing an additional 75,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA in the second quarter valued at about $49,000. Public Sector Pension Investment Board lifted its stake in shares of PHINIA by 5.0% in the second quarter. Public Sector Pension Investment Board now owns 100,506 shares of the company’s stock valued at $3,956,000 after purchasing an additional 4,815 shares during the period. Gabelli Funds LLC raised its position in PHINIA by 45.2% during the second quarter. Gabelli Funds LLC now owns 67,500 shares of the company’s stock worth $2,657,000 after acquiring an additional 21,000 shares during the last quarter. Finally, Long Road Investment Counsel LLC raised its position in PHINIA by 10.3% during the second quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company’s stock worth $508,000 after acquiring an additional 1,200 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

PHINIA Stock Up 1.3 %

PHIN stock opened at $46.16 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. PHINIA Inc. has a 1-year low of $23.46 and a 1-year high of $52.19. The firm has a fifty day moving average price of $45.89 and a two-hundred day moving average price of $42.74. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 14.68 and a beta of 0.86.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.27). The firm had revenue of $868.00 million for the quarter, compared to the consensus estimate of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 EPS. Research analysts predict that PHINIA Inc. will post 3.27 EPS for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, August 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.