Geneva Partners LLC Purchases Shares of 42,163 Modine Manufacturing Company $MOD

Key Points

• Geneva Partners LLC acquired 42,163 Modine Manufacturing shares worth approximately $11.3 million, representing 3.0% of the fund’s holdings and about 0.08% of Modine’s outstanding stock. Institutional investors collectively own 95.23% of the company.
• Modine insiders sold 54,302 shares worth approximately $15.9 million over the past 90 days, including a 38,282-share sale by Vice President Brian Jon Agen under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $320.14, despite KeyCorp cutting its target to $280. The company recently beat quarterly EPS estimates, reporting $1.53 per share versus $1.27 expected, while revenue rose 28% year over year to $874.1 million.

Geneva Partners LLC acquired a new position in Modine Manufacturing Company (NYSE:MOD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 42,163 shares of the auto parts company's stock, valued at approximately $11,258,000. Modine Manufacturing makes up 3.0% of Geneva Partners LLC's holdings, making the stock its 14th largest holding. Geneva Partners LLC owned approximately 0.08% of Modine Manufacturing at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MOD. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the first quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in Modine Manufacturing in the fourth quarter worth about $25,000. Optiver Holding B.V. raised its position in Modine Manufacturing by 19.7% in the first quarter. Optiver Holding B.V. now owns 237 shares of the auto parts company's stock worth $51,000 after acquiring an additional 39 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Modine Manufacturing in the 2nd quarter valued at about $72,000. Finally, Sunbelt Securities Inc. acquired a new stake in Modine Manufacturing in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 95.23% of the company's stock.

Insider Activity at Modine Manufacturing

In related news, VP Brian Jon Agen sold 38,282 shares of Modine Manufacturing stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the completion of the sale, the vice president owned 66,343 shares of the company's stock, valued at approximately $19,582,463.31. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $295.06, for a total value of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at $8,369,081.84. This trade represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Modine Manufacturing from $370.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of Modine Manufacturing from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 28th. Glj Research restated a "buy" rating and set a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. UBS Group lifted their price target on shares of Modine Manufacturing to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, May 27th. Finally, Oppenheimer upped their price target on Modine Manufacturing from $271.00 to $325.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $320.14.

Modine Manufacturing Stock Down 3.0%

Modine Manufacturing stock opened at $194.59 on Thursday. Modine Manufacturing Company has a twelve month low of $111.18 and a twelve month high of $323.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.22 and a current ratio of 2.04. The firm has a market cap of $10.33 billion, a PE ratio of 73.16, a P/E/G ratio of 0.66 and a beta of 1.71. The firm's 50 day moving average price is $235.59 and its two-hundred day moving average price is $236.26.

Modine Manufacturing (NYSE:MOD - Get Free Report) last issued its earnings results on Tuesday, July 28th. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.26. Modine Manufacturing had a net margin of 4.28% and a return on equity of 25.59%. The company had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. During the same quarter last year, the business posted $0.95 EPS. The company's revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts predict that Modine Manufacturing Company will post 7.65 EPS for the current fiscal year.

Modine Manufacturing Company Profile

Modine Manufacturing Company NYSE: MOD is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.

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