Ameriprise Financial Inc. Sells 12,244 Shares of PHINIA Inc. (NYSE:PHIN)

Ameriprise Financial Inc. reduced its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 208,298 shares of the company's stock after selling 12,244 shares during the period. Ameriprise Financial Inc. owned 0.50% of PHINIA worth $10,034,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PHIN. Algert Global LLC increased its stake in shares of PHINIA by 14.0% in the fourth quarter. Algert Global LLC now owns 33,738 shares of the company's stock worth $1,625,000 after purchasing an additional 4,146 shares in the last quarter. Aristeia Capital L.L.C. boosted its holdings in PHINIA by 13.6% in the 4th quarter. Aristeia Capital L.L.C. now owns 5,789 shares of the company's stock worth $279,000 after buying an additional 692 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in PHINIA by 14.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,034 shares of the company's stock valued at $435,000 after buying an additional 1,118 shares in the last quarter. Jane Street Group LLC raised its holdings in PHINIA by 426.0% during the 4th quarter. Jane Street Group LLC now owns 128,966 shares of the company's stock valued at $6,212,000 after acquiring an additional 104,450 shares during the period. Finally, Ion Asset Management Ltd. raised its holdings in PHINIA by 7.8% during the 4th quarter. Ion Asset Management Ltd. now owns 639,000 shares of the company's stock valued at $30,781,000 after acquiring an additional 46,316 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHIN has been the subject of a number of analyst reports. UBS Group reaffirmed 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. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price for the company. in a research note on Wednesday, April 23rd. Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target on the stock. Northland Capmk raised shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Finally, CL King assumed coverage on shares of PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, PHINIA has a consensus rating of "Moderate Buy" and a consensus target price of $51.17.

Insiders Place Their Bets

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

PHINIA Stock Performance

NYSE:PHIN opened at $44.12 on Tuesday. The stock has a market cap of $1.76 billion, a P/E ratio of 25.21 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The business's 50-day moving average price is $41.89 and its two-hundred day moving average price is $47.38. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23.

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

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.

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