Hudson Bay Capital Management LP Sells 59,109 Shares of PHINIA Inc. $PHIN

Hudson Bay Capital Management LP lowered its stake in shares of PHINIA Inc. (NYSE:PHIN) by 47.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,623 shares of the company’s stock after selling 59,109 shares during the period. Hudson Bay Capital Management LP owned 0.17% of PHINIA worth $3,829,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. TD Waterhouse Canada Inc. grew its position in shares of PHINIA by 350.0% in the second quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. MAI Capital Management boosted its stake in PHINIA by 845.4% in the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the period. State of Wyoming bought a new position in PHINIA in the 2nd quarter worth about $60,000. Finally, CWM LLC grew its holdings in PHINIA by 76.8% during the 3rd quarter. CWM LLC now owns 1,448 shares of the company’s stock valued at $83,000 after buying an additional 629 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

NYSE:PHIN opened at $62.77 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of 19.31 and a beta of 1.36. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $70.64 and its two-hundred day moving average price is $61.62. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $81.11.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.17). The business had revenue of $889.00 million for the quarter, compared to analysts’ expectations of $843.59 million. PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. As a group, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is presently 36.92%.

Insiders Place Their Bets

In other news, VP Neil Fryer sold 624 shares of PHINIA stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction 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. The trade was a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Gustanski sold 3,812 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the transaction, the vice president owned 14,871 shares of the company’s stock, valued at $1,081,567.83. This trade represents a 20.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group reiterated a “neutral” rating and set a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Finally, Northland Securities set a $93.00 price target on shares of PHINIA in a report on Friday, February 13th. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.33.

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.