QRG Capital Management Inc. Buys Shares of 7,442 PHINIA Inc. (NYSE:PHIN)

QRG Capital Management Inc. bought a new stake in PHINIA Inc. (NYSE:PHIN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,442 shares of the company’s stock, valued at approximately $343,000.

Other large investors also recently bought and sold shares of the company. Old North State Wealth Management LLC boosted its stake in shares of PHINIA by 4.9% during the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after acquiring an additional 451 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of PHINIA by 334.4% during the third quarter. Assenagon Asset Management S.A. now owns 123,571 shares of the company’s stock valued at $5,688,000 after acquiring an additional 95,123 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of PHINIA by 4,502.9% during the third quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after acquiring an additional 3,152 shares during the last quarter. Vest Financial LLC boosted its stake in shares of PHINIA by 6.4% during the third quarter. Vest Financial LLC now owns 29,447 shares of the company’s stock valued at $1,355,000 after acquiring an additional 1,782 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of PHINIA by 161.2% during the third quarter. Swedbank AB now owns 66,752 shares of the company’s stock valued at $3,073,000 after acquiring an additional 41,200 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PHIN. Morgan Stanley lowered 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 initiated coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target on the stock.

Insider Activity

In other news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

PHINIA Stock Up 1.5 %

Shares of NYSE:PHIN opened at $52.87 on Tuesday. The stock’s 50-day moving average price is $46.65 and its two-hundred day moving average price is $44.43. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $53.72. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 22.69 and a beta of 0.86.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. On average, research analysts forecast that PHINIA Inc. will post 3.27 EPS for the current year.

PHINIA Company 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.