New York State Teachers Retirement System Sells 6,970 Shares of PHINIA Inc. (NYSE:PHIN)

New York State Teachers Retirement System lowered its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,036 shares of the company's stock after selling 6,970 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of PHINIA worth $2,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of PHINIA by 28.3% during the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after acquiring an additional 535,222 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after acquiring an additional 253,345 shares in the last quarter. First Trust Advisors LP lifted its position in shares of PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares during the last quarter. Voss Capital LP lifted its position in shares of PHINIA by 31.8% during the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after purchasing an additional 342,081 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of PHINIA by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock worth $68,120,000 after purchasing an additional 110,931 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PHIN. Bank of America boosted their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. UBS Group reissued a "neutral" rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a report on Wednesday, April 23rd. Finally, Morgan Stanley cut their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.17.

Insider Buying and Selling

In related news, CEO Brady D. Ericson bought 10,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer owned 436,486 shares in the company, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Meggan M. Walsh purchased 1,400 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the transaction, the director owned 7,492 shares in the company, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 11,423 shares of company stock valued at $458,069. 2.00% of the stock is currently owned by insiders.

PHINIA Stock Performance

PHINIA stock traded up $0.02 during trading hours on Tuesday, hitting $47.10. The stock had a trading volume of 302,482 shares, compared to its average volume of 528,766. The company has a 50-day moving average of $43.39 and a two-hundred day moving average of $45.24. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.88 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its 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). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The company 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. The company's quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.29%. PHINIA's payout ratio is presently 61.36%.

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.