D. E. Shaw & Co. Inc. Has $402,000 Stock Holdings in PHINIA Inc. (NYSE:PHIN)

D. E. Shaw & Co. Inc. reduced its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 74.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,349 shares of the company's stock after selling 24,433 shares during the period. D. E. Shaw & Co. Inc.'s holdings in PHINIA were worth $402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PHIN. Brandywine Global Investment Management LLC acquired a new stake in PHINIA in the fourth quarter valued at $6,874,000. Barclays PLC increased its holdings in shares of PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock valued at $3,351,000 after acquiring an additional 56,114 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock valued at $11,552,000 after acquiring an additional 11,625 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of PHINIA by 4.2% in 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 last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of PHINIA by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 228,584 shares of the company's stock valued at $11,011,000 after acquiring an additional 842 shares during the last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PHINIA news, Director Meggan M. Walsh bought 1,400 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the transaction, the director now owns 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was bought 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 in the company, valued at $17,341,588.78. The trade was a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

PHINIA Price Performance

PHIN stock traded down $0.37 during trading on Friday, hitting $43.39. The company had a trading volume of 630,705 shares, compared to its average volume of 588,639. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 24.79 and a beta of 1.59. The business has a 50 day moving average of $41.84 and a 200 day moving average of $46.96. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

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

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.08 annualized dividend and a yield of 2.49%. PHINIA's dividend payout ratio (DPR) is presently 61.36%.

Analysts Set New Price Targets

A number of research analysts recently commented on PHIN shares. UBS Group restated a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. CL King started coverage on PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a research note on Wednesday, April 23rd. Morgan Stanley lowered their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Bank of America upped their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $51.17.

PHINIA 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.