Swedbank AB Has $3.07 Million Position in PHINIA Inc. (NYSE:PHIN)

Swedbank AB lifted its holdings in PHINIA Inc. (NYSE:PHIN) by 161.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,752 shares of the company’s stock after acquiring an additional 41,200 shares during the period. Swedbank AB’s holdings in PHINIA were worth $3,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in PHINIA in the first quarter worth approximately $37,000. GAMMA Investing LLC increased its stake 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. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the 2nd quarter valued at $49,000. EntryPoint Capital LLC bought a new position in PHINIA during the first quarter worth $60,000. Finally, Central Pacific Bank Trust Division bought a new stake in PHINIA in the first quarter valued at $63,000. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Performance

NYSE:PHIN opened at $45.76 on Friday. 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 one year low of $23.46 and a one year high of $52.19. The company has a market cap of $2.00 billion, a PE ratio of 24.47 and a beta of 0.85. The firm has a 50-day moving average of $46.48 and a 200-day moving average of $43.35.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The company 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 business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.61 earnings per share. As a group, equities research analysts expect that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s payout ratio is currently 53.48%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group started coverage on PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Wednesday, September 25th.

Insiders Place Their Bets

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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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.