Wittenberg Investment Management Inc. Has $1.47 Million Stock Holdings in PHINIA Inc. $PHIN

Key Points

• Wittenberg Investment Management reduced its PHINIA stake by 33.8% in the fourth quarter, leaving it with 23,507 shares valued at about $1.47 million.
• Insider selling was noted, with VP Michael Coetzee and VP Samantha Pombier both selling shares on June 10, while insiders collectively own 2.20% of the stock.
• PHINIA beat earnings expectations in its latest quarter, reporting $1.29 EPS on $878 million in revenue, and it also declared a quarterly dividend of $0.30 per share.

Wittenberg Investment Management Inc. trimmed its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 33.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,507 shares of the company's stock after selling 12,000 shares during the quarter. PHINIA comprises about 0.6% of Wittenberg Investment Management Inc.'s holdings, making the stock its 27th biggest position. Wittenberg Investment Management Inc. owned 0.06% of PHINIA worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. UBS Group AG grew its position in PHINIA by 222.9% in the 3rd quarter. UBS Group AG now owns 466,053 shares of the company's stock valued at $26,789,000 after purchasing an additional 321,708 shares during the period. Heartland Advisors Inc. grew its position in PHINIA by 157.0% in the 3rd quarter. Heartland Advisors Inc. now owns 257,018 shares of the company's stock valued at $14,773,000 after purchasing an additional 157,018 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in PHINIA in the 3rd quarter valued at $8,565,000. Qube Research & Technologies Ltd grew its position in PHINIA by 64.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 378,477 shares of the company's stock valued at $21,755,000 after purchasing an additional 148,210 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of PHINIA during the fourth quarter valued at about $8,639,000. 90.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Michael Coetzee sold 1,250 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the transaction, the vice president directly owned 27,009 shares in the company, valued at approximately $2,177,195.49. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Samantha Pombier sold 2,227 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total transaction of $183,415.72. Following the transaction, the vice president owned 6,637 shares in the company, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Freedom Capital cut shares of PHINIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Wall Street Zen upgraded shares of PHINIA from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. KeyCorp assumed coverage on shares of PHINIA in a report on Friday. They set an "overweight" rating and a $105.00 price objective for the company. Zacks Research upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of PHINIA from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $74.83.

PHINIA Stock Up 0.1%

Shares of NYSE PHIN opened at $85.25 on Monday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 23.81 and a beta of 1.16. The company has a 50-day moving average price of $75.39 and a 200-day moving average price of $69.51. PHINIA Inc. has a 1 year low of $41.59 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm had revenue of $878.00 million during the quarter, compared to analysts' expectations of $838.67 million. During the same period last year, the company earned $0.94 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that PHINIA Inc. will post 6.36 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Tuesday, June 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.4%. PHINIA's payout ratio is 33.52%.

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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