It is possibly correct, but I agree that this method will be quite slow. You could also try to use Find or replace in data table to find the rows where, for example, "Placement Completed" is in the "Placement_Status" column. This would reduce the number of rows you need to loop through.
I am not sure why the multiple filters in the List rows present in a table action do not work. It might be a bug. You could try to report it to MS support and maybe they'll come back with a solution.
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