PHINIA Inc. $PHIN Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of PHINIA Inc. (NYSE:PHIN) by 21.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,559 shares of the company’s stock after selling 7,611 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in PHINIA were worth $1,728,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in PHINIA by 76.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 122,151 shares of the company’s stock worth $7,021,000 after buying an additional 52,957 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of PHINIA in the 3rd quarter worth about $3,850,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of PHINIA in the 3rd quarter worth about $1,915,000. Heartland Advisors Inc. grew its position in shares of PHINIA by 157.0% during the 3rd quarter. Heartland Advisors Inc. now owns 257,018 shares of the company’s stock valued at $14,773,000 after buying an additional 157,018 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of PHINIA by 13.8% during the 3rd quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock valued at $78,433,000 after buying an additional 165,316 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Stock Performance

Shares of PHIN opened at $74.38 on Tuesday. The company’s fifty day moving average is $69.97 and its 200-day moving average is $64.45. PHINIA Inc. has a 12 month low of $40.36 and a 12 month high of $81.11. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 20.78 and a beta of 1.16. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. During the same quarter in the prior year, the business posted $0.94 EPS. PHINIA’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts expect that PHINIA Inc. will post 6.36 EPS for the current fiscal year.

Insider Buying and Selling at PHINIA

In related news, VP Neil Fryer sold 624 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the sale, the vice president directly owned 18,180 shares of the company’s stock, valued at approximately $1,322,595. This represents a 3.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher Gustanski sold 3,812 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total transaction of $277,246.76. Following the sale, the vice president directly owned 14,871 shares of the company’s stock, valued at approximately $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Northland Securities set a $93.00 price target on shares of PHINIA in a research note on Friday, February 13th. Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, UBS Group reissued a “neutral” rating and set a $76.00 target price on shares of PHINIA in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.80.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.