Medina Value Partners LLC Cuts Stock Position in PHINIA Inc. (NYSE:PHIN)

Medina Value Partners LLC decreased its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 36.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 386,959 shares of the company's stock after selling 219,819 shares during the quarter. PHINIA makes up 7.6% of Medina Value Partners LLC's portfolio, making the stock its 8th biggest position. Medina Value Partners LLC owned approximately 0.92% of PHINIA worth $18,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PHIN. Jane Street Group LLC lifted its position in PHINIA by 297.0% during the 3rd quarter. Jane Street Group LLC now owns 24,516 shares of the company's stock valued at $1,128,000 after acquiring an additional 18,341 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of PHINIA by 352.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 38,474 shares of the company's stock worth $1,771,000 after buying an additional 29,977 shares during the last quarter. Barclays PLC grew its stake in shares of PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after buying an additional 56,114 shares during the last quarter. Tidal Investments LLC bought a new position in PHINIA during the 3rd quarter valued at approximately $527,000. Finally, Principal Financial Group Inc. boosted its holdings in PHINIA by 1.1% in the third quarter. Principal Financial Group Inc. now owns 227,742 shares of the company's stock worth $10,483,000 after acquiring an additional 2,422 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

Shares of PHIN stock traded up $1.19 on Tuesday, reaching $41.86. The stock had a trading volume of 102,807 shares, compared to its average volume of 608,623. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23. The company has a 50 day simple moving average of $44.24 and a 200 day simple moving average of $47.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The stock has a market cap of $1.67 billion, a P/E ratio of 23.87 and a beta of 1.56.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $833.00 million for the quarter, compared to analysts' expectations of $811.94 million. Equities research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. This is an increase from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is currently 61.71%.

Analysts Set New Price Targets

PHIN has been the subject of several analyst reports. CL King began coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price target for the company. Bank of America began coverage on shares of PHINIA in a report on Thursday, April 10th. They issued a "buy" rating and a $53.00 target price for the company. UBS Group reiterated a "neutral" rating and set a $45.00 price target (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. Finally, Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

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.