Principal Financial Group Inc. Has $101.96 Million Stake in Modine Manufacturing Company $MOD

Key Points

• Principal Financial Group increased its stake in Modine by 1.8% to 763,681 shares (about $101.96 million), representing roughly 1.45% ownership.
• Several large institutions have either initiated or greatly expanded positions—Capital Research ($184.6M), WT Asset ($69.3M), and Van Berkom (up 3,145% to $58.2M)—leaving 95.23% institutional/hedge fund ownership.
• Modine beat Q results (EPS $1.19 vs $0.99; revenue $805M, +30.5% YoY) and carries mostly positive analyst coverage (six Buys, two Holds, consensus target $234.33), though valuation is high (PE ≈152.7) and the stock trades near its 52‑week high.

Principal Financial Group Inc. grew its stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 763,681 shares of the auto parts company's stock after buying an additional 13,836 shares during the period. Principal Financial Group Inc. owned approximately 1.45% of Modine Manufacturing worth $101,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Capital Research Global Investors bought a new stake in Modine Manufacturing in the third quarter valued at approximately $184,610,000. WT Asset Management Ltd bought a new position in shares of Modine Manufacturing during the fourth quarter worth $69,255,000. Van Berkom & Associates Inc. boosted its position in shares of Modine Manufacturing by 3,145.2% during the fourth quarter. Van Berkom & Associates Inc. now owns 436,084 shares of the auto parts company's stock worth $58,222,000 after purchasing an additional 422,646 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Modine Manufacturing by 133.2% in the 3rd quarter. Invesco Ltd. now owns 598,140 shares of the auto parts company's stock valued at $85,032,000 after buying an additional 341,595 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Modine Manufacturing in the 2nd quarter valued at $28,322,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOD has been the topic of several recent analyst reports. DA Davidson reiterated a "buy" rating and set a $265.00 target price on shares of Modine Manufacturing in a report on Tuesday, March 31st. Glj Research initiated coverage on Modine Manufacturing in a research report on Monday, March 30th. They set a "buy" rating and a $290.00 price target on the stock. Oppenheimer lifted their price objective 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 began coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They set a "buy" rating and a $263.00 target price for the company. Finally, Wall Street Zen downgraded shares of Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $234.33.

Modine Manufacturing Stock Up 1.2%

NYSE:MOD opened at $274.83 on Thursday. The stock has a 50-day simple moving average of $225.49 and a 200 day simple moving average of $181.55. Modine Manufacturing Company has a 52-week low of $86.48 and a 52-week high of $280.00. The company has a market cap of $14.49 billion, a PE ratio of 152.69, a PEG ratio of 1.11 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 results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share 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 during the quarter, compared to the consensus estimate of $763.54 million. During the same quarter in the prior year, the firm posted $0.92 EPS. The business's revenue was up 30.5% on a year-over-year basis. On average, sell-side analysts expect that Modine Manufacturing Company will post 4.82 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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