Wealth Enhancement Trust Services Inc. Buys New Holdings in Modine Manufacturing Company $MOD

Key Points

• Wealth Enhancement Trust Services initiated a new stake of 7,400 shares in Modine (≈$988,000) in Q4, and major funds — including Vanguard, Wasatch, State Street, Capital Research and JPMorgan — contribute to roughly 95.23% institutional ownership.
• Modine beat expectations with $1.19 EPS vs. $0.99 consensus and $805M revenue (up 30.5% YoY); the stock carries a high valuation (P/E 135.35) and a market cap of $12.85B.
• Analysts rate the stock a consensus “Moderate Buy” with a $234.33 price target, while director Suresh V. Garimella sold 1,100 shares (insiders own 2.48% of the company).

Wealth Enhancement Trust Services Inc. bought a new stake in shares of Modine Manufacturing Company (NYSE:MOD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,400 shares of the auto parts company's stock, valued at approximately $988,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Modine Manufacturing by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,874 shares of the auto parts company's stock valued at $722,297,000 after acquiring an additional 97,035 shares during the period. Wasatch Advisors LP boosted its holdings in Modine Manufacturing by 1.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,792,413 shares of the auto parts company's stock valued at $176,553,000 after acquiring an additional 23,955 shares during the period. State Street Corp boosted its holdings in Modine Manufacturing by 4.2% during the 2nd quarter. State Street Corp now owns 1,309,488 shares of the auto parts company's stock valued at $128,985,000 after acquiring an additional 53,351 shares during the period. Capital Research Global Investors purchased a new stake in Modine Manufacturing during the 3rd quarter valued at about $184,610,000. Finally, JPMorgan Chase & Co. boosted its holdings in Modine Manufacturing by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company's stock valued at $166,540,000 after acquiring an additional 151,543 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Suresh V. Garimella sold 1,100 shares of the 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 transaction, the director owned 79,856 shares of the company's stock, valued at approximately $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.48% of the company's stock.

Modine Manufacturing Stock Down 0.0%

Shares of NYSE:MOD opened at $243.62 on Monday. Modine Manufacturing Company has a 52-week low of $67.80 and a 52-week high of $260.01. The firm has a market capitalization of $12.85 billion, a P/E ratio of 135.35, a P/E/G ratio of 0.99 and a beta of 1.68. The stock has a 50 day moving average price of $218.29 and a 200-day moving average price of $173.83. 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 announced its earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $763.54 million. During the same quarter in the prior year, the company earned $0.92 EPS. The business's revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Modine Manufacturing Company will post 3.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research cut Modine Manufacturing from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Glj Research started coverage on Modine Manufacturing in a report on Monday, March 30th. They issued a "buy" rating and a $290.00 price objective for the company. Oppenheimer increased their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Wall Street Zen cut Modine Manufacturing from a "buy" rating to a "hold" rating in a report on Sunday, February 22nd. Finally, DA Davidson reiterated a "buy" rating and issued a $265.00 price objective on shares of Modine Manufacturing in a report on Tuesday, March 31st. Six investment 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, Modine Manufacturing presently has an average 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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