Federation des caisses Desjardins du Quebec Purchases 8,179 Shares of Modine Manufacturing Company $MOD

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Modine Manufacturing by 53.5%, acquiring an additional 8,179 shares, bringing its total holdings to 23,461 shares valued at approximately $1.8 million.
• Hedge fund activities showed significant increases, with Wellington Management Group boosting its stake by 293.7%, now holding nearly 2.5 million shares worth around $189 million.
• Modine Manufacturing reported earnings of $1.06 per share for the latest quarter, surpassing expectations and showing a revenue increase of 3.2% year-over-year.

Federation des caisses Desjardins du Quebec lifted its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 53.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,461 shares of the auto parts company's stock after purchasing an additional 8,179 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Modine Manufacturing were worth $1,801,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MOD. Wellington Management Group LLP grew its stake in shares of Modine Manufacturing by 293.7% in the 1st quarter. Wellington Management Group LLP now owns 2,468,788 shares of the auto parts company's stock worth $189,479,000 after purchasing an additional 1,841,640 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Modine Manufacturing by 384.3% in the 1st quarter. Bank of New York Mellon Corp now owns 848,068 shares of the auto parts company's stock worth $65,089,000 after purchasing an additional 672,960 shares during the last quarter. Situational Awareness LP grew its stake in shares of Modine Manufacturing by 980.1% in the 1st quarter. Situational Awareness LP now owns 716,824 shares of the auto parts company's stock worth $55,016,000 after purchasing an additional 650,457 shares during the last quarter. Reinhart Partners LLC. grew its stake in shares of Modine Manufacturing by 187.3% in the 1st quarter. Reinhart Partners LLC. now owns 875,834 shares of the auto parts company's stock worth $67,220,000 after purchasing an additional 571,026 shares during the last quarter. Finally, J. Goldman & Co LP acquired a new position in shares of Modine Manufacturing in the 4th quarter worth approximately $43,201,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Buying and Selling at Modine Manufacturing

In other news, Director Marsha C. Williams sold 25,761 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $134.77, for a total transaction of $3,471,809.97. Following the transaction, the director owned 120,689 shares in the company, valued at approximately $16,265,256.53. This trade represents a 17.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suresh V. Garimella sold 14,204 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $140.29, for a total transaction of $1,992,679.16. Following the transaction, the director owned 82,056 shares in the company, valued at $11,511,636.24. This represents a 14.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 239,938 shares of company stock worth $31,001,392 in the last ninety days. Company insiders own 2.48% of the company's stock.

Analysts Set New Price Targets

MOD has been the topic of several analyst reports. Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. KeyCorp lifted their target price on shares of Modine Manufacturing from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Oppenheimer lifted their target price on shares of Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Modine Manufacturing has an average rating of "Buy" and an average target price of $145.67.

Modine Manufacturing Stock Down 2.6%

Shares of NYSE MOD traded down $3.92 during trading hours on Thursday, hitting $147.58. The stock had a trading volume of 567,944 shares, compared to its average volume of 1,162,515. The company has a market capitalization of $7.75 billion, a P/E ratio of 42.29, a P/E/G ratio of 0.88 and a beta of 2.09. The firm's 50-day moving average price is $122.46 and its two-hundred day moving average price is $99.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 2.06. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $154.00.

Modine Manufacturing (NYSE:MOD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The auto parts company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.93 by $0.13. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $653.80 million. Modine Manufacturing had a net margin of 7.21% and a return on equity of 23.90%. The company's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. Modine Manufacturing has set its FY 2026 guidance at EPS. Analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.