CWA Asset Management Group LLC Takes Position in PHINIA Inc. (NYSE:PHIN)

CWA Asset Management Group LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,843 shares of the company's stock, valued at approximately $775,000.

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

PHINIA Trading Up 0.8 %

Shares of NYSE:PHIN traded up $0.40 on Monday, reaching $52.47. 152,416 shares of the company traded hands, compared to its average volume of 646,712. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. The business's 50-day simple moving average is $46.55 and its 200 day simple moving average is $44.33. The stock has a market capitalization of $2.21 billion, a P/E ratio of 22.35 and a beta of 0.86. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $53.72.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, equities analysts anticipate that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

Insider Transactions at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm's 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 directly owns 29,540 shares in the company, valued at $1,409,353.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PHIN. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective on the stock. in a research note on Wednesday, September 25th. UBS Group began coverage on PHINIA in a research note on Wednesday, September 4th. They set a "buy" rating and a $55.00 price objective on the 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.