PHINIA Inc. (NYSE:PHIN) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in PHINIA Inc. (NYSE:PHIN) by 334.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,571 shares of the company’s stock after buying an additional 95,123 shares during the period. Assenagon Asset Management S.A. owned about 0.28% of PHINIA worth $5,688,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA in the 1st quarter valued at $37,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PHINIA during the second quarter worth about $49,000. EntryPoint Capital LLC purchased a new position in shares of PHINIA during the first quarter worth about $60,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of PHINIA during the first quarter worth about $63,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PHIN has been the subject of a number of research analyst reports. UBS Group assumed coverage on PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report on Wednesday, September 25th.

Insider Buying and Selling at PHINIA

In related 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 value of $42,939.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

PHINIA Stock Performance

NYSE PHIN opened at $45.50 on Wednesday. The firm has a market cap of $2.08 billion, a P/E ratio of 24.33 and a beta of 0.85. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average price is $46.54 and its 200 day moving average price is $43.75. PHINIA Inc. has a 52-week low of $23.46 and a 52-week high of $52.19.

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

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, August 23rd. PHINIA’s dividend payout ratio is currently 53.48%.

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.