PHINIA Inc. $PHIN Stock Position Lessened by Medina Value Partners LLC

Key Points

• Medina Value Partners reduced its PHINIA stake by 25.6% in Q3 to 364,144 shares, making PHINIA its 8th largest holding and contributing to institutional ownership of about 90.9% of the stock.
• Insider selling occurred on March 4: VP Christopher Gustanski sold 3,812 shares (a 20.4% drop in his holdings) and VP Neil Fryer sold 624 shares, leaving corporate insiders with roughly 2.0% ownership.
• PHINIA reported Q results that missed EPS estimates ($1.18 vs. $1.35) but beat on revenue ($889M vs. $843.6M) and announced a higher quarterly dividend of $0.30 (up from $0.27), implying a ~1.9% yield.

Medina Value Partners LLC lowered its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 25.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,144 shares of the company's stock after selling 125,212 shares during the quarter. PHINIA accounts for 4.9% of Medina Value Partners LLC's investment portfolio, making the stock its 8th largest holding. Medina Value Partners LLC owned 0.95% of PHINIA worth $20,931,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. EMC Capital Management purchased a new stake in shares of PHINIA in the second quarter worth $39,000. TD Waterhouse Canada Inc. lifted its holdings in PHINIA by 350.0% during the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company's stock valued at $42,000 after purchasing an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company's stock worth $50,000 after purchasing an additional 222 shares during the period. MAI Capital Management raised its stake in PHINIA by 845.4% during the 3rd quarter. MAI Capital Management now owns 917 shares of the company's stock valued at $53,000 after acquiring an additional 820 shares during the last quarter. Finally, State of Wyoming acquired a new stake in PHINIA during the second quarter valued at $60,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PHINIA news, VP Christopher Gustanski sold 3,812 shares of PHINIA stock in a transaction dated 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 sale, the vice president directly owned 14,871 shares in the company, valued at $1,081,567.83. This trade represents a 20.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Neil Fryer sold 624 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total value of $45,396.00. Following the completion of the transaction, the vice president directly owned 18,180 shares of the company's stock, valued at approximately $1,322,595. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PHIN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded PHINIA from a "buy" rating to a "strong-buy" rating in a research report on Sunday, February 22nd. Freedom Capital lowered PHINIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Northland Securities set a $93.00 target price on PHINIA in a report on Friday, February 13th. UBS Group reaffirmed a "neutral" rating and set a $76.00 price objective on shares of PHINIA in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of PHINIA in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.33.

PHINIA Stock Performance

NYSE:PHIN opened at $64.32 on Friday. The business's fifty day moving average is $71.05 and its 200 day moving average is $61.41. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 19.79 and a beta of 1.36. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $81.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.36 and a current ratio of 1.86.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.17). The business had revenue of $889.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Research analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.30 dividend. The ex-dividend date is Friday, March 6th. This is a boost from PHINIA's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. PHINIA's dividend payout ratio is presently 36.92%.

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. 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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