Turtle Creek Asset Management Inc. Cuts Holdings in PHINIA Inc. (NYSE:PHIN)

Turtle Creek Asset Management Inc. trimmed its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,500 shares of the company’s stock after selling 600 shares during the quarter. Turtle Creek Asset Management Inc.’s holdings in PHINIA were worth $72,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PHIN. Barclays PLC increased its holdings in PHINIA by 336.2% during the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after buying an additional 56,114 shares during the period. Principal Financial Group Inc. increased its holdings in PHINIA by 1.1% during the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock valued at $10,483,000 after buying an additional 2,422 shares during the period. Ritholtz Wealth Management boosted its stake in PHINIA by 50.8% in the fourth quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock valued at $1,351,000 after acquiring an additional 9,442 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in PHINIA by 30,454.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 13,444 shares of the company’s stock valued at $648,000 after acquiring an additional 13,400 shares in the last quarter. Finally, KBC Group NV boosted 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 acquiring an additional 685 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PHINIA

In related news, CEO Brady D. Ericson acquired 10,000 shares of the firm’s stock in a transaction dated 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 acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

PHINIA Trading Down 0.5%

NYSE:PHIN opened at $44.18 on Friday. The company has a market capitalization of $1.76 billion, a P/E ratio of 25.25 and a beta of 1.59. The firm has a fifty day simple moving average of $41.86 and a 200-day simple moving average of $47.39. PHINIA Inc. has a 12 month low of $36.25 and a 12 month 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) last issued its quarterly earnings data 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). The firm had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CL King assumed coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a “buy” rating and a $54.00 target price for the company. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research note on Thursday, January 30th. Bank of America raised their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group restated a “neutral” rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Finally, Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price for the company. Three 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.