Invesco Ltd. Has $59.56 Million Stake in Modine Manufacturing Company $MOD

Key Points

• Invesco Ltd. has significantly reduced its stake in Modine Manufacturing Company by 61.4%, selling over 1.2 million shares and now holding approximately 1.48% of the company valued at around $59.6 million.
• Other institutional investors like Bank of New York Mellon Corp and Bessemer Group Inc. increased their stakes in Modine Manufacturing, reflecting a varied approach among institutional investors toward the stock.
• Analysts have mixed views on Modine Manufacturing, with KeyCorp raising its price target to $150 and Wall Street Zen downgrading to a "hold" rating, amid a backdrop of fluctuating insider trading activities.

Invesco Ltd. cut its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 61.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 775,970 shares of the auto parts company's stock after selling 1,236,563 shares during the period. Invesco Ltd. owned about 1.48% of Modine Manufacturing worth $59,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cynosure Group LLC raised its stake in shares of Modine Manufacturing by 73.4% during the 1st quarter. Cynosure Group LLC now owns 4,390 shares of the auto parts company's stock worth $337,000 after purchasing an additional 1,858 shares in the last quarter. Deutsche Bank AG increased its holdings in Modine Manufacturing by 12.4% in the first quarter. Deutsche Bank AG now owns 101,850 shares of the auto parts company's stock worth $7,817,000 after buying an additional 11,218 shares during the last quarter. Vanguard Group Inc. raised its position in Modine Manufacturing by 2.5% during the first quarter. Vanguard Group Inc. now owns 5,187,554 shares of the auto parts company's stock valued at $398,145,000 after acquiring an additional 128,587 shares in the last quarter. Blair William & Co. IL raised its position in Modine Manufacturing by 114.5% during the first quarter. Blair William & Co. IL now owns 63,993 shares of the auto parts company's stock valued at $4,911,000 after acquiring an additional 34,154 shares in the last quarter. Finally, Castellan Group lifted its stake in Modine Manufacturing by 74.6% in the first quarter. Castellan Group now owns 91,214 shares of the auto parts company's stock valued at $7,001,000 after acquiring an additional 38,984 shares during the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Oppenheimer boosted their price target on Modine Manufacturing from $121.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 1st. Finally, KeyCorp increased their price objective on Modine Manufacturing from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of "Buy" and a consensus target price of $145.67.

Modine Manufacturing Stock Performance

MOD stock traded up $0.3250 during mid-day trading on Thursday, reaching $135.2550. 41,302 shares of the stock traded hands, compared to its average volume of 1,200,703. The firm has a market capitalization of $7.10 billion, a PE ratio of 38.76, a P/E/G ratio of 0.87 and a beta of 2.12. The business has a 50-day moving average of $110.30 and a two-hundred day moving average of $95.10. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $146.84. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other Modine Manufacturing news, EVP Michael B. Lucareli sold 80,661 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $128.33, for a total transaction of $10,351,226.13. Following the completion of the transaction, the executive vice president directly owned 66,920 shares in the company, valued at $8,587,843.60. This represents a 54.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian Jon Agen sold 47,939 shares of Modine Manufacturing stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $110.50, for a total value of $5,297,259.50. Following the transaction, the vice president directly owned 90,015 shares of the company's stock, valued at approximately $9,946,657.50. The trade was a 34.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,561 shares of company stock worth $25,462,844 over the last quarter. Company insiders own 2.48% of the company's stock.

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.