Swedbank AB Buys 41,200 Shares of PHINIA Inc. (NYSE:PHIN)

Swedbank AB raised its stake in PHINIA Inc. (NYSE:PHIN) by 161.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,752 shares of the company’s stock after acquiring an additional 41,200 shares during the quarter. Swedbank AB owned about 0.15% of PHINIA worth $3,073,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after buying an additional 271 shares during the period. Texas Permanent School Fund Corp increased its position in PHINIA by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 40,858 shares of the company’s stock worth $1,570,000 after acquiring an additional 534 shares during the period. CHICAGO TRUST Co NA raised its stake in PHINIA by 8.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock worth $439,000 after purchasing an additional 713 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in PHINIA in the 1st quarter valued at about $37,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in PHINIA by 15.0% in the 1st 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 period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target 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 report on Wednesday, September 25th.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction dated 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 transaction, the vice president now owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

PHINIA Stock Performance

Shares of PHINIA stock opened at $45.76 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $52.19. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 24.47 and a beta of 0.85. The firm’s 50-day moving average price is $46.48 and its two-hundred day moving average price is $43.35.

PHINIA (NYSE:PHIN) last posted its quarterly 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 firm 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 was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. On average, analysts forecast that PHINIA Inc. will post 3.27 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.19%. PHINIA’s payout ratio is 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.