SG Americas Securities LLC Has $369,000 Stock Holdings in PHINIA Inc. (NYSE:PHIN)

SG Americas Securities LLC lowered its position in shares of PHINIA Inc. (NYSE:PHIN) by 92.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,021 shares of the company’s stock after selling 92,824 shares during the quarter. SG Americas Securities LLC’s holdings in PHINIA were worth $369,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PHIN. SageView Advisory Group LLC bought a new stake in PHINIA during the first quarter worth about $1,093,000. US Bancorp DE increased its holdings in PHINIA by 78.4% during the 1st quarter. US Bancorp DE now owns 38,110 shares of the company’s stock valued at $1,465,000 after purchasing an additional 16,750 shares in the last quarter. Alaska Permanent Fund Corp raised its position in PHINIA by 151.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 59,383 shares of the company’s stock valued at $2,282,000 after purchasing an additional 35,805 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PHINIA by 147.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock worth $1,404,000 after purchasing an additional 21,731 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in PHINIA by 43.0% in the fourth quarter. Wellington Management Group LLP now owns 245,198 shares of the company’s stock worth $7,427,000 after purchasing an additional 73,732 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PHIN has been the subject of a number of research reports. UBS Group began coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company. Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research report on Wednesday, September 25th.

PHINIA Price Performance

Shares of PHIN opened at $45.76 on Friday. The business’s fifty day moving average price is $46.48 and its two-hundred day moving average price is $43.35. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 24.47 and a beta of 0.85. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $52.19. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). The firm had revenue of $868.00 million for the quarter, compared to the consensus estimate of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. On average, analysts predict that PHINIA Inc. will post 3.27 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.19%. PHINIA’s payout ratio is presently 53.48%.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the transaction, the vice president now owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

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.