Medina Value Partners LLC Lowers Stake in PHINIA Inc. $PHIN

Medina Value Partners LLC reduced its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 17.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 299,950 shares of the company’s stock after selling 64,194 shares during the period. PHINIA makes up 4.4% of Medina Value Partners LLC’s investment portfolio, making the stock its 11th largest holding. Medina Value Partners LLC owned about 0.79% of PHINIA worth $18,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC grew its position in PHINIA by 1.9% during the 4th quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after purchasing an additional 141 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV grew its position in PHINIA by 2.7% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock worth $365,000 after purchasing an additional 155 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in PHINIA by 34.4% during 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 last quarter. Old North State Wealth Management LLC grew its position in PHINIA by 2.5% during the 4th quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock worth $643,000 after purchasing an additional 250 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in PHINIA by 151.5% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after purchasing an additional 256 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Up 0.1%

Shares of NYSE:PHIN opened at $85.25 on Monday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 23.81 and a beta of 1.16. The firm’s 50-day simple moving average is $75.39 and its 200-day simple moving average is $69.51. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. PHINIA Inc. has a fifty-two week low of $41.59 and a fifty-two week high of $86.65.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share 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 business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, equities research analysts predict that PHINIA Inc. will post 6.36 earnings per share for the current year.

PHINIA Dividend Announcement

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

Insider Activity

In other news, VP Samantha Pombier sold 2,227 shares of PHINIA stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total value of $183,415.72. Following the sale, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. The trade was a 25.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Coetzee sold 1,250 shares of PHINIA 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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on PHIN shares. Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Freedom Capital downgraded shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. KeyCorp started coverage on shares of PHINIA in a research report on Friday. They set an “overweight” rating and a $105.00 price objective on the stock. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.83.

PHINIA Company 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.