Ethic Inc. Takes Position in PHINIA Inc. (NYSE:PHIN)

Ethic Inc. bought a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,515 shares of the company's stock, valued at approximately $651,000.

A number of other large investors have also modified their holdings of the business. Brandywine Global Investment Management LLC purchased a new stake in shares of PHINIA during the fourth quarter valued at $6,874,000. Barclays PLC increased its holdings in PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after buying an additional 56,114 shares during the period. Empowered Funds LLC raised its position in PHINIA by 5.1% during the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock worth $11,552,000 after buying an additional 11,625 shares during the last quarter. Ritholtz Wealth Management raised its position in PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock worth $1,351,000 after buying an additional 9,442 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in PHINIA by 4.2% during the 4th quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock valued at $2,937,000 after acquiring an additional 2,445 shares during the period. Hedge funds and other institutional investors own 90.94% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PHIN shares. Bank of America increased their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. Morgan Stanley reduced their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, UBS Group reissued a "neutral" rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.17.

Insider Transactions at PHINIA

In related news, CEO Brady D. Ericson purchased 10,000 shares of PHINIA stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

PHINIA Price Performance

Shares of NYSE:PHIN traded up $0.22 during midday trading on Tuesday, hitting $44.34. The company's stock had a trading volume of 28,115 shares, compared to its average volume of 590,907. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The company has a market cap of $1.76 billion, a P/E ratio of 25.24 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The business's 50 day simple moving average is $41.89 and its 200 day simple moving average is $47.38.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The firm had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. On average, analysts forecast that PHINIA Inc. will post 4.21 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.