New York State Teachers Retirement System Sells 1,984 Shares of PHINIA Inc. (NYSE:PHIN)

New York State Teachers Retirement System reduced its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,541 shares of the company’s stock after selling 1,984 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of PHINIA worth $3,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of PHINIA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after acquiring an additional 102,769 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after purchasing an additional 215,150 shares during the last quarter. American Century Companies Inc. lifted its holdings in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after purchasing an additional 251,650 shares during the last quarter. LSV Asset Management lifted its holdings in PHINIA by 0.7% during the 2nd quarter. LSV Asset Management now owns 780,569 shares of the company’s stock worth $30,723,000 after purchasing an additional 5,792 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in PHINIA by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock worth $20,969,000 after purchasing an additional 57,068 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHIN. Morgan Stanley cut 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 began coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

PHINIA Price Performance

Shares of NYSE PHIN opened at $51.32 on Thursday. The stock has a market capitalization of $2.16 billion, a PE ratio of 22.03 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The business has a fifty day moving average price of $46.41 and a two-hundred day moving average price of $44.11. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $52.19.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.38. The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities analysts predict that PHINIA Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction 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 completion of the transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.