PHINIA Inc. $PHIN is Voss Capital LP’s 9th Largest Position

Voss Capital LP decreased its holdings in PHINIA Inc. (NYSE:PHIN) by 26.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,680,000 shares of the company’s stock after selling 610,000 shares during the quarter. PHINIA accounts for about 4.7% of Voss Capital LP’s holdings, making the stock its 9th largest holding. Voss Capital LP owned 4.37% of PHINIA worth $96,566,000 as of its most recent SEC filing.

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

PHINIA Trading Down 0.0%

Shares of PHIN opened at $64.00 on Wednesday. PHINIA Inc. has a 52-week low of $36.25 and a 52-week high of $81.11. The stock has a market cap of $2.43 billion, a PE ratio of 19.69 and a beta of 1.36. The firm’s fifty day moving average is $70.91 and its two-hundred day moving average is $61.54. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, February 12th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.17). The business had revenue of $889.00 million during the quarter, compared to analyst estimates of $843.59 million. PHINIA had a net margin of 3.73% and a return on equity of 12.56%. PHINIA’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. Research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The firm 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. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. PHINIA’s dividend payout ratio is 36.92%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHIN. Freedom Capital cut shares of 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 shares of PHINIA in a research note on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Finally, Zacks Research upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, PHINIA presently has an average rating of “Moderate Buy” and a consensus price target of $66.33.

Insider Buying and Selling

In related news, VP Christopher Gustanski sold 3,812 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total value of $277,246.76. Following the completion of the sale, the vice president owned 14,871 shares of the company’s stock, valued at approximately $1,081,567.83. This trade represents a 20.40% 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 Neil Fryer sold 624 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total value of $45,396.00. Following the completion of the sale, the vice president directly owned 18,180 shares of the company’s stock, valued at approximately $1,322,595. This represents a 3.32% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.00% of the company’s stock.

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.