Jacobs Levy Equity Management Inc. Sells 35,336 Shares of PHINIA Inc. (NYSE:PHIN)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,266 shares of the company's stock after selling 35,336 shares during the quarter. Jacobs Levy Equity Management Inc. owned 2.33% of PHINIA worth $47,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares in the last quarter. KBC Group NV grew its stake in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new position in PHINIA in the fourth quarter valued at about $173,000. State of Michigan Retirement System purchased a new position in PHINIA in the fourth quarter valued at about $203,000. Finally, Optimize Financial Inc purchased a new position in PHINIA in the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Buying and Selling

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

PHINIA Stock Up 0.3%

Shares of NYSE:PHIN traded up $0.14 on Thursday, reaching $44.46. The company had a trading volume of 241,094 shares, compared to its average volume of 596,661. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. 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 stock has a market capitalization of $1.77 billion, a P/E ratio of 25.41 and a beta of 1.59. The stock has a 50-day moving average price of $41.74 and a 200 day moving average price of $47.39.

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

Analyst Ratings Changes

A number of brokerages have commented on PHIN. Northland Securities began 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. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. CL King began coverage on PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. Bank of America boosted their price target on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Three equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.83.

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.