Modine Manufacturing Company $MOD Stock Holdings Lessened by Peregrine Capital Management LLC

Key Points

• Peregrine Capital trimmed its stake in Modine by 7.6%, selling 7,412 shares and ending the quarter with 90,061 shares worth about $12.0M, while institutional investors own roughly 95.23% of the company.
• Analysts are broadly positive: six Buy and two Hold ratings produce a consensus "Moderate Buy" and an average price target of $234.33, with several firms initiating coverage or raising targets (e.g., Oppenheimer to $240).
• Modine shares traded at $254.59 (near a 52-week high of $260.01) after reporting a quarterly EPS beat ($1.19 vs. $0.99) and revenue of $805M (+30.5% YoY); the stock shows a high P/E (~140.6) and a market cap of about $13.4B.

Peregrine Capital Management LLC lessened its holdings in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,061 shares of the auto parts company's stock after selling 7,412 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.17% of Modine Manufacturing worth $12,024,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MOD. Spire Wealth Management bought a new position in shares of Modine Manufacturing during the 4th quarter valued at $27,000. First Horizon Corp bought a new stake in Modine Manufacturing in the third quarter worth $38,000. Sunbelt Securities Inc. acquired a new position in Modine Manufacturing during the third quarter worth $39,000. Danske Bank A S bought a new position in Modine Manufacturing during the third quarter valued at about $43,000. Finally, AdvisorShares Investments LLC lifted its position in shares of Modine Manufacturing by 154.0% in the third quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company's stock worth $68,000 after buying an additional 288 shares during the last quarter. 95.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MOD shares. Glj Research initiated coverage on Modine Manufacturing in a report on Monday, March 30th. They set a "buy" rating and a $290.00 price objective on the stock. Oppenheimer increased their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, February 6th. Roth Mkm started coverage on shares of Modine Manufacturing in a research note on Wednesday, February 18th. They issued a "buy" rating and a $263.00 price objective for the company. DA Davidson reiterated a "buy" rating and issued a $265.00 target price on shares of Modine Manufacturing in a research note on Tuesday, March 31st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Modine Manufacturing in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Modine Manufacturing presently has an average rating of "Moderate Buy" and a consensus price target of $234.33.

Insider Activity at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director owned 79,856 shares in the company, valued at approximately $14,699,093.92. This trade represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Performance

NYSE MOD traded up $1.44 during midday trading on Thursday, hitting $254.59. The company had a trading volume of 39,452 shares, compared to its average volume of 1,309,450. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51. The stock has a market cap of $13.42 billion, a price-to-earnings ratio of 140.62, a P/E/G ratio of 1.01 and a beta of 1.68. The firm has a fifty day simple moving average of $220.14 and a two-hundred day simple moving average of $175.81. Modine Manufacturing Company has a fifty-two week low of $76.33 and a fifty-two week high of $260.01.

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

Modine Manufacturing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.