New York State Common Retirement Fund Has $539,000 Position in PHINIA Inc. (NYSE:PHIN)

New York State Common Retirement Fund lowered its position in shares of PHINIA Inc. (NYSE:PHIN) by 13.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,697 shares of the company’s stock after selling 2,000 shares during the quarter. New York State Common Retirement Fund’s holdings in PHINIA were worth $539,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of PHINIA in the fourth quarter valued at approximately $771,000. JPMorgan Chase & Co. raised its position in shares of PHINIA by 0.3% in the fourth quarter. JPMorgan Chase & Co. now owns 561,644 shares of the company’s stock valued at $27,054,000 after purchasing an additional 1,603 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of PHINIA in the fourth quarter valued at about $6,874,000. O Shaughnessy Asset Management LLC raised its position in shares of PHINIA by 35.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 97,852 shares of the company’s stock valued at $4,714,000 after purchasing an additional 25,532 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of PHINIA by 4.2% in the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company’s stock valued at $2,937,000 after acquiring an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Up 4.8%

PHIN stock opened at $52.28 on Friday. The stock has a market capitalization of $2.08 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The firm has a 50-day moving average price of $44.99 and a 200-day moving average price of $45.30.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. As a group, equities research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.27 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.07%. PHINIA’s dividend payout ratio (DPR) is presently 61.36%.

Insider Buying and Selling

In other PHINIA news, CEO Brady D. Ericson acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the acquisition, the chief executive officer directly owned 436,486 shares in the company, valued at $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meggan M. Walsh acquired 1,400 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $42.71 per share, with a total value of $59,794.00. Following the acquisition, the director owned 7,492 shares in the company, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 11,423 shares of company stock valued at $458,069. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PHIN. Morgan Stanley decreased their price target on shares of PHINIA from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. UBS Group increased their price objective on shares of PHINIA from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday. Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday. BNP Paribas cut shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Wednesday, April 23rd. Finally, Bank of America increased their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

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.