PHINIA Inc. $PHIN Stake Lessened by Peregrine Capital Management LLC

Key Points

• PHINIA saw Peregrine Capital cut its position by 30.2% in Q4, selling 44,933 shares and leaving 104,097 shares (~$6.53M); institutional investors now own about 90.94% of the stock, with firms like Goldman Sachs increasing holdings.
• Two company VPs sold shares on March 4: Christopher Gustanski sold 3,812 shares at an average $72.73 (a 20.4% reduction to 14,871 shares) and Neil Fryer sold 624 shares at $72.75 (a 3.32% reduction to 18,180 shares).
• PHINIA missed Q EPS estimates ($1.18 vs. $1.35) but topped revenue expectations ($889M), and raised its quarterly dividend to $0.30 (annualized $1.20, ~1.6% yield).

Peregrine Capital Management LLC lowered its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,097 shares of the company's stock after selling 44,933 shares during the period. Peregrine Capital Management LLC owned approximately 0.27% of PHINIA worth $6,526,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PHIN. Royal Bank of Canada lifted its holdings in shares of PHINIA by 464.8% in the first quarter. Royal Bank of Canada now owns 75,745 shares of the company's stock valued at $3,214,000 after purchasing an additional 62,333 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of PHINIA by 62.3% in the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company's stock valued at $938,000 after purchasing an additional 8,576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PHINIA by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company's stock valued at $1,056,000 after purchasing an additional 1,093 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of PHINIA by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock valued at $41,462,000 after purchasing an additional 58,875 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PHINIA by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company's stock valued at $4,000,000 after purchasing an additional 6,478 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Christopher Gustanski sold 3,812 shares of the stock in a transaction 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 transaction, the vice president directly owned 14,871 shares of the company's stock, valued at $1,081,567.83. This represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Neil Fryer sold 624 shares of the stock in a transaction 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 in the company, valued at $1,322,595. The trade was a 3.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.00% of the company's stock.

PHINIA Trading Up 0.6%

PHINIA stock opened at $72.76 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.39 and a beta of 1.36. PHINIA Inc. has a one year low of $38.44 and a one year high of $81.11. The company's fifty day moving average price is $70.29 and its two-hundred day moving average price is $63.62.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.17). The business had revenue of $889.00 million for the quarter, compared to analyst estimates of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, analysts forecast that PHINIA Inc. will post 5.94 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from PHINIA's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.6%. PHINIA's dividend payout ratio (DPR) is currently 36.92%.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of research analyst reports. Zacks Research lowered PHINIA from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 14th. Wall Street Zen lowered PHINIA from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 18th. Weiss Ratings restated a "hold (c)" rating on shares of PHINIA in a report on Monday, December 29th. Freedom Capital lowered PHINIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Northland Securities set a $93.00 price objective on PHINIA in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, PHINIA presently has an average rating of "Hold" and a consensus 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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