Hudson Bay Capital Management LP Cuts Stock Position in PHINIA Inc. $PHIN

Hudson Bay Capital Management LP cut its position in shares of PHINIA Inc. (NYSE:PHIN) by 47.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,623 shares of the company’s stock after selling 59,109 shares during the quarter. Hudson Bay Capital Management LP’s holdings in PHINIA were worth $3,829,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its position in PHINIA by 350.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock worth $42,000 after buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of PHINIA by 34.4% during 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 in the last quarter. MAI Capital Management raised its stake in shares of PHINIA by 845.4% during the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after acquiring an additional 820 shares in the last quarter. State of Wyoming bought a new stake in shares of PHINIA in the 2nd quarter worth approximately $60,000. Finally, CWM LLC lifted its holdings in shares of PHINIA by 76.8% in the 3rd quarter. CWM LLC now owns 1,448 shares of the company’s stock worth $83,000 after acquiring an additional 629 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Christopher Gustanski sold 3,812 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total value of $277,246.76. Following the completion of the transaction, the vice president directly owned 14,871 shares in the company, valued at approximately $1,081,567.83. This represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neil Fryer sold 624 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was 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. This represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PHIN. Zacks Research raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. UBS Group reissued a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research note on Friday, February 13th. Freedom Capital lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded PHINIA from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.33.

PHINIA Stock Down 1.1%

Shares of NYSE:PHIN opened at $62.77 on Friday. The stock’s 50-day moving average is $70.64 and its 200 day moving average is $61.62. The company has a market cap of $2.38 billion, a PE ratio of 19.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.86 and a quick ratio of 1.36. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $81.11.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.17). The business had revenue of $889.00 million during 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 company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

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

About PHINIA

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.