PHINIA Inc. (NYSE:PHIN) Shares Sold by Holocene Advisors LP

Holocene Advisors LP lessened its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 18.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,006 shares of the company's stock after selling 9,468 shares during the period. Holocene Advisors LP owned 0.10% of PHINIA worth $1,980,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Atom Investors LP lifted its position in shares of PHINIA by 71.6% in the third quarter. Atom Investors LP now owns 142,612 shares of the company's stock valued at $6,564,000 after acquiring an additional 59,515 shares in the last quarter. Paloma Partners Management Co acquired a new position in PHINIA in the 3rd quarter valued at about $258,000. Verition Fund Management LLC purchased a new position in PHINIA in the 3rd quarter valued at about $301,000. FORA Capital LLC boosted its stake in shares of PHINIA by 92.8% during the 3rd quarter. FORA Capital LLC now owns 21,402 shares of the company's stock worth $985,000 after purchasing an additional 10,302 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of PHINIA by 115.3% during the third quarter. MetLife Investment Management LLC now owns 24,790 shares of the company's stock worth $1,141,000 after buying an additional 13,277 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Trading Up 0.4 %

PHIN traded up $0.23 during midday trading on Friday, hitting $53.41. The company's stock had a trading volume of 376,903 shares, compared to its average volume of 402,374. PHINIA Inc. has a 52-week low of $26.08 and a 52-week high of $57.23. The firm has a 50-day moving average price of $49.24 and a two-hundred day moving average price of $45.95. 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 firm has a market cap of $2.25 billion, a P/E ratio of 22.92 and a beta of 1.10.

PHINIA (NYSE:PHIN - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA's 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 earnings per share. On average, research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, November 25th. PHINIA's dividend payout ratio (DPR) is currently 42.92%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PHIN shares. Morgan Stanley downgraded shares of 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 assumed coverage on PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price target for the company.

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.