Wittenberg Investment Management Inc. Cuts Holdings in PHINIA Inc. $PHIN

Wittenberg Investment Management Inc. cut its position in shares of PHINIA Inc. (NYSE:PHIN) by 33.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,507 shares of the company’s stock after selling 12,000 shares during the quarter. PHINIA makes up about 0.6% of Wittenberg Investment Management Inc.’s holdings, making the stock its 27th biggest position. Wittenberg Investment Management Inc.’s holdings in PHINIA were worth $1,474,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. ProShare Advisors LLC raised its position in PHINIA by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 7,409 shares of the company’s stock worth $464,000 after acquiring an additional 141 shares during the period. Acorn Financial Advisory Services Inc. ADV raised its position in PHINIA by 2.7% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 5,816 shares of the company’s stock worth $365,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC raised its position in PHINIA by 34.4% in the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after acquiring an additional 222 shares during the period. Old North State Wealth Management LLC raised its position in PHINIA by 2.5% in the fourth quarter. Old North State Wealth Management LLC now owns 10,253 shares of the company’s stock worth $643,000 after acquiring an additional 250 shares during the period. Finally, Larson Financial Group LLC raised its position in PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $27,000 after acquiring an additional 256 shares during the period. Institutional investors own 90.94% of the company’s stock.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total value of $100,762.50. Following the sale, the vice president owned 27,009 shares of the company’s stock, valued at $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 SEC, which is available at the SEC website. Also, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the completion of the sale, the vice president directly owned 6,637 shares in the company, valued at approximately $546,623.32. This trade represents a 25.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.

PHINIA Stock Performance

NYSE PHIN opened at $85.25 on Monday. The company’s 50 day moving average is $75.39 and its 200-day moving average is $69.51. PHINIA Inc. has a 12-month low of $41.59 and a 12-month high of $86.65. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3.16 billion, a P/E ratio of 23.81 and a beta of 1.16.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results 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. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The company had revenue of $878.00 million for the quarter, compared to analyst estimates of $838.67 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that PHINIA Inc. will post 6.36 earnings per share for the current year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be given 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 33.52%.

Analyst Ratings Changes

PHIN has been the topic of several research reports. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. KeyCorp initiated coverage on shares of PHINIA in a research report on Friday. They issued an “overweight” rating and a $105.00 price objective on the stock. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of PHINIA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 4th. Two investment 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.83.

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.