Natixis Advisors LLC Sells 1,271 Shares of PHINIA Inc. (NYSE:PHIN)

Natixis Advisors LLC trimmed its position in shares of PHINIA Inc. (NYSE:PHIN) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,328 shares of the company’s stock after selling 1,271 shares during the period. Natixis Advisors LLC’s holdings in PHINIA were worth $407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of PHINIA in the 4th quarter worth approximately $16,896,000. Jacobs Levy Equity Management Inc. lifted its holdings in PHINIA by 3,027.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after buying an additional 424,168 shares in the last quarter. Vision One Management Partners LP acquired a new position in PHINIA during the 4th quarter worth $8,379,000. Bank of Nova Scotia bought a new stake in shares of PHINIA during the 4th quarter valued at $5,058,000. Finally, Russell Investments Group Ltd. raised its position in shares of PHINIA by 89.3% during the 1st quarter. Russell Investments Group Ltd. now owns 250,543 shares of the company’s stock valued at $9,628,000 after acquiring an additional 118,172 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price for the company.

Insider Buying and Selling at PHINIA

In other PHINIA 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 transaction of $42,939.00. Following 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

PHINIA Trading Up 1.3 %

Shares of NYSE:PHIN opened at $45.87 on Friday. PHINIA Inc. has a 52-week low of $23.46 and a 52-week high of $49.31. The company has a market capitalization of $2.00 billion, a P/E ratio of 14.21 and a beta of 0.86. The company has a 50-day simple moving average of $44.81 and a 200 day simple moving average of $41.58. 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 released its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). The company had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 earnings per share. Sell-side analysts forecast that PHINIA Inc. will post 3.37 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 paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.18%.

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.