LSV Asset Management Trims Stock Position in PHINIA Inc. $PHIN

Key Points

• LSV Asset Management trimmed its PHINIA stake by 1.7% in the fourth quarter, though it still held 1.34 million shares worth about $84.1 million and remained one of the company’s largest investors.
• PHINIA’s recent quarterly results topped expectations, with EPS of $1.29 versus the $1.13 estimate and revenue of $878 million versus $838.67 million expected. Revenue rose 10.3% year over year.
• Two PHINIA vice presidents, Christopher Gustanski and Neil Fryer, sold shares in March, while analysts remained mixed overall with an average Moderate Buy rating and a $68.80 price target.

LSV Asset Management lessened its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,341,734 shares of the company's stock after selling 22,800 shares during the period. LSV Asset Management owned 3.49% of PHINIA worth $84,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock valued at $27,000 after purchasing an additional 256 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PHINIA by 34.4% in the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company's stock valued at $50,000 after purchasing an additional 222 shares in the last quarter. MAI Capital Management lifted its holdings in shares of PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company's stock valued at $53,000 after purchasing an additional 820 shares in the last quarter. State of Wyoming purchased a new stake in shares of PHINIA in the second quarter valued at about $60,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of PHINIA by 2,529.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,262 shares of the company's stock valued at $79,000 after purchasing an additional 1,214 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Activity at PHINIA

In related news, VP Christopher Gustanski sold 3,812 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the transaction, the vice president owned 14,871 shares of the company's stock, valued at approximately $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Neil Fryer sold 624 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total transaction of $45,396.00. Following the transaction, the vice president directly owned 18,180 shares of the company's stock, valued at $1,322,595. This trade represents a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.20% of the company's stock.

PHINIA Stock Performance

Shares of PHIN opened at $74.74 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.88 and a beta of 1.16. The company's 50 day simple moving average is $71.32 and its 200 day simple moving average is $66.66. PHINIA Inc. has a 1 year low of $41.28 and a 1 year high of $81.11.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million for the quarter, compared to the consensus estimate of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, sell-side analysts predict that PHINIA Inc. will post 6.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PHIN. Weiss Ratings downgraded shares of PHINIA from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. UBS Group reissued a "neutral" rating and set a $76.00 price objective on shares of PHINIA in a research note on Friday, February 13th. Zacks Research raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of PHINIA from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 2nd. Finally, Northland Securities set a $93.00 price objective on shares of PHINIA in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $68.80.

PHINIA 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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