Federation des caisses Desjardins du Quebec Raises Holdings in 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 grew its holdings in Modine Manufacturing Company (NYSE:MOD - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,461 shares of the auto parts company's stock after acquiring an additional 8,179 shares during the quarter. 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 institutional investors have also recently modified their holdings of MOD. GAMMA Investing LLC boosted its position in Modine Manufacturing by 63.1% in the first quarter. GAMMA Investing LLC now owns 367 shares of the auto parts company's stock valued at $28,000 after buying an additional 142 shares during the last quarter. Versant Capital Management Inc boosted its position in Modine Manufacturing by 245.9% in the first quarter. Versant Capital Management Inc now owns 422 shares of the auto parts company's stock valued at $32,000 after buying an additional 300 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Modine Manufacturing in the first quarter valued at approximately $46,000. First Horizon Advisors Inc. boosted its position in Modine Manufacturing by 442.4% in the first quarter. First Horizon Advisors Inc. now owns 640 shares of the auto parts company's stock valued at $49,000 after buying an additional 522 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Modine Manufacturing by 14.2% in the first quarter. IFP Advisors Inc now owns 911 shares of the auto parts company's stock valued at $70,000 after buying an additional 113 shares during the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Suresh V. Garimella sold 14,204 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was 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 trade represents a 14.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael B. Lucareli sold 80,661 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $128.33, for a total value of $10,351,226.13. Following the transaction, the executive vice president owned 66,920 shares in the company, valued at $8,587,843.60. This trade represents a 54.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 239,938 shares of company stock worth $31,001,392. Insiders own 2.48% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MOD. Oppenheimer upped their target price on Modine Manufacturing from $121.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Wall Street Zen lowered Modine Manufacturing from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, KeyCorp upped their target price on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Modine Manufacturing presently has a consensus rating of "Buy" and a consensus price target of $145.67.

Modine Manufacturing Stock Performance

MOD stock traded up $2.62 during trading on Friday, hitting $149.47. 661,238 shares of the company traded hands, compared to its average volume of 654,992. The stock's 50-day simple moving average is $124.22 and its 200 day simple moving average is $100.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.06 and a quick ratio of 1.28. The company has a market cap of $7.85 billion, a PE ratio of 42.83, a P/E/G ratio of 0.93 and a beta of 2.09. Modine Manufacturing Company has a 1 year low of $64.79 and a 1 year high of $154.00.

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

Modine Manufacturing 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.