Assenagon Asset Management S.A. Has $5.69 Million Stake in PHINIA Inc. (NYSE:PHIN)

Assenagon Asset Management S.A. increased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 334.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 123,571 shares of the company's stock after purchasing an additional 95,123 shares during the period. Assenagon Asset Management S.A. owned approximately 0.28% of PHINIA worth $5,688,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock valued at $65,000 after purchasing an additional 271 shares during the period. Texas Permanent School Fund Corp boosted its stake in PHINIA by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 40,858 shares of the company's stock worth $1,570,000 after buying an additional 534 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in PHINIA by 8.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company's stock valued at $439,000 after buying an additional 713 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA in the 1st quarter valued at $37,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of PHINIA by 15.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company's stock worth $343,000 after acquiring an additional 1,169 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other PHINIA news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction on Wednesday, August 28th. The shares were 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 owns 29,540 shares of the company's stock, valued at approximately $1,409,353.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

PHINIA Trading Down 2.2 %

PHIN stock traded down $1.00 during trading on Wednesday, hitting $44.50. The company had a trading volume of 569,829 shares, compared to its average volume of 652,797. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 23.80 and a beta of 0.85. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $46.49 and a 200-day moving average price of $43.75. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $52.19.

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

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA's dividend payout ratio (DPR) 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.