PHINIA Inc. (NYSE:PHIN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in PHINIA Inc. (NYSE:PHIN) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 23,903 shares of the company’s stock after selling 1,023 shares during the period. State of Alaska Department of Revenue’s holdings in PHINIA were worth $1,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in PHINIA in the 3rd quarter worth approximately $80,154,000. Jacobs Levy Equity Management Inc. boosted its stake in PHINIA by 10.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock worth $46,794,000 after purchasing an additional 95,870 shares in the last quarter. Wellington Management Group LLP lifted its stake in PHINIA by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 333,395 shares of the company’s stock valued at $15,346,000 after acquiring an additional 3,804 shares during the period. Empowered Funds LLC acquired a new stake in PHINIA during the 3rd quarter valued at approximately $10,504,000. Finally, Principal Financial Group Inc. lifted its stake in PHINIA by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,422 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Performance

PHIN opened at $48.95 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The firm has a fifty day moving average price of $49.93 and a 200 day moving average price of $48.41. PHINIA Inc. has a 1 year low of $30.09 and a 1 year high of $57.23. The stock has a market cap of $2.06 billion, a P/E ratio of 21.01 and a beta of 1.35.

Analyst Ratings Changes

Several brokerages have commented on PHIN. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Northland Securities began coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 16th.

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.