Swedbank AB Acquires 41,200 Shares of PHINIA Inc. (NYSE:PHIN)

Swedbank AB boosted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 161.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,752 shares of the company's stock after buying an additional 41,200 shares during the quarter. Swedbank AB owned approximately 0.15% of PHINIA worth $3,073,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PHIN. Fidelis Capital Partners LLC bought a new stake in PHINIA during the first quarter worth about $37,000. GAMMA Investing LLC increased its holdings in PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company's stock valued at $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA in the 2nd quarter valued at $49,000. EntryPoint Capital LLC acquired a new position in PHINIA in the first quarter worth $60,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of PHINIA during the first quarter worth $63,000. 90.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction 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 of the company's stock, valued at $1,409,353.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PHIN shares. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price target for the company. in a report on Wednesday, September 25th. UBS Group started coverage on shares of PHINIA in a research report on Wednesday, September 4th. They set a "buy" rating and a $55.00 target price on the stock.

PHINIA Price Performance

Shares of NYSE PHIN remained flat at $45.76 during midday trading on Friday. The stock had a trading volume of 348,092 shares, compared to its average volume of 666,167. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 24.47 and a beta of 0.85. PHINIA Inc. has a one year low of $23.46 and a one year high of $52.19. 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 stock has a fifty day simple moving average of $46.48 and a 200-day simple moving average of $43.38.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.27). PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm had revenue of $868.00 million during the quarter, compared to analyst estimates of $889.00 million. During the same quarter in the previous year, the business earned $1.61 earnings per share. PHINIA's revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts expect that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. PHINIA's payout ratio is presently 53.48%.

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.