Thrivent Financial for Lutherans Sells 2,576 Shares of PHINIA Inc. (NYSE:PHIN)

Thrivent Financial for Lutherans lessened its position in shares of PHINIA Inc. (NYSE:PHIN) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,924 shares of the company’s stock after selling 2,576 shares during the period. Thrivent Financial for Lutherans’ holdings in PHINIA were worth $1,493,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of PHINIA in the 4th quarter valued at about $37,000. Fidelis Capital Partners LLC bought a new position in shares of PHINIA in the 1st quarter valued at about $37,000. GAMMA Investing LLC grew its holdings in shares of PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares in the last quarter. TFO Wealth Partners LLC bought a new position in shares of PHINIA in the 4th quarter valued at about $48,000. Finally, EntryPoint Capital LLC bought a new position in shares of PHINIA in the 1st quarter valued at about $60,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Trading Down 1.6 %

Shares of NYSE:PHIN opened at $45.44 on Friday. PHINIA Inc. has a 52-week low of $23.46 and a 52-week high of $52.19. The company has a market capitalization of $1.98 billion, a P/E ratio of 14.68 and a beta of 0.86. The company has a 50-day simple moving average of $45.93 and a 200 day simple moving average of $42.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85.

PHINIA (NYSE:PHIN) last issued 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). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm had revenue of $868.00 million during the quarter, compared to analyst estimates of $889.00 million. During the same quarter last year, the business posted $1.61 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts forecast 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. Shareholders of record on Friday, August 23rd were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.00 annualized dividend and a yield of 2.20%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PHIN. UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research note on Wednesday, September 25th.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.