PHINIA Inc. (NYSE:PHIN) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 61.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,000 shares of the company’s stock after purchasing an additional 23,200 shares during the period. Renaissance Technologies LLC owned about 0.13% of PHINIA worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of PHINIA during the 1st quarter worth approximately $37,000. GAMMA Investing LLC grew its position in PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after buying an additional 567 shares during the period. Quarry LP acquired a new stake in PHINIA during the fourth quarter valued at $37,000. EntryPoint Capital LLC purchased a new position in PHINIA in the first quarter valued at $60,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of PHINIA in the fourth quarter worth about $48,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PHIN. 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 research report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a research report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

PHINIA Price Performance

Shares of NYSE PHIN opened at $45.56 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The firm has a fifty day moving average of $45.89 and a 200 day moving average of $42.74. The firm has a market cap of $2.08 billion, a PE ratio of 14.64 and a beta of 0.86. PHINIA Inc. has a one year low of $23.46 and a one year high of $52.19.

PHINIA (NYSE:PHIN) last released its earnings results 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 analysts’ expectations of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm’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 earned $1.61 EPS. As a group, research analysts predict that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%.

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.