Modine Manufacturing Company $MOD Position Reduced by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Modine by 0.9% in Q4, selling 43,737 shares but still holds 5,037,137 shares (9.57% ownership) worth about $672.5 million.
• Modine beat Q results with $1.19 EPS vs. $0.99 expected and revenue of $805 million (up 30.5% YoY); analysts have a consensus rating of Moderate Buy with a $234.33 price target (six Buys, two Holds).
• Shares are trading near their 52‑week high (opened $266.28; high $268.51) with a $14.04 billion market cap and a high valuation (P/E ~147.9), and institutional investors own about 95.23% of the stock.

Vanguard Group Inc. cut its position in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,037,137 shares of the auto parts company's stock after selling 43,737 shares during the quarter. Vanguard Group Inc. owned 9.57% of Modine Manufacturing worth $672,508,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Modine Manufacturing by 13.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,616 shares of the auto parts company's stock valued at $12,512,000 after buying an additional 9,989 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in Modine Manufacturing by 583.1% during the fourth quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company's stock valued at $2,025,000 after buying an additional 12,950 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Modine Manufacturing by 0.9% during the third quarter. Principal Financial Group Inc. now owns 749,845 shares of the auto parts company's stock valued at $106,598,000 after buying an additional 6,847 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Modine Manufacturing by 390.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 16,861 shares of the auto parts company's stock valued at $2,397,000 after purchasing an additional 13,424 shares during the period. Finally, Wisconsin Capital Management LLC increased its holdings in shares of Modine Manufacturing by 227.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company's stock valued at $3,280,000 after purchasing an additional 16,034 shares during the period. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Down 0.2%

NYSE:MOD opened at $266.28 on Monday. The stock's 50 day moving average price is $223.54 and its 200 day moving average price is $179.97. Modine Manufacturing Company has a 52 week low of $86.48 and a 52 week high of $268.51. The company has a market capitalization of $14.04 billion, a P/E ratio of 147.93, a P/E/G ratio of 1.09 and a beta of 1.66. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The auto parts company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.20. Modine Manufacturing had a return on equity of 22.99% and a net margin of 3.40%.The firm had revenue of $805.00 million for the quarter, compared to the consensus estimate of $763.54 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. The firm's revenue was up 30.5% on a year-over-year basis. On average, research analysts forecast that Modine Manufacturing Company will post 4.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MOD shares. Oppenheimer upped their target price on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, February 6th. DA Davidson reiterated a "buy" rating and issued a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Zacks Research downgraded Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Roth Mkm started coverage on Modine Manufacturing in a report on Wednesday, February 18th. They issued a "buy" rating and a $263.00 target price on the stock. Finally, Wall Street Zen downgraded Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.33.

About Modine Manufacturing

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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