Aventail Capital Group LP Acquires Shares of 402,378 Modine Manufacturing Company $MOD

Aventail Capital Group LP acquired a new stake in Modine Manufacturing Company (NYSE:MOD) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 402,378 shares of the auto parts company’s stock, valued at approximately $53,721,000. Modine Manufacturing makes up 3.1% of Aventail Capital Group LP’s portfolio, making the stock its 9th biggest position.

Several other institutional investors also recently bought and sold shares of MOD. Capital Research Global Investors acquired a new position in Modine Manufacturing in the 3rd quarter valued at $184,610,000. Price T Rowe Associates Inc. MD boosted its position in shares of Modine Manufacturing by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,333,174 shares of the auto parts company’s stock worth $311,503,000 after purchasing an additional 560,131 shares in the last quarter. WT Asset Management Ltd purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth $69,255,000. Norges Bank purchased a new stake in shares of Modine Manufacturing during the 4th quarter worth $58,309,000. Finally, Van Berkom & Associates Inc. boosted its position in shares of Modine Manufacturing by 3,145.2% during the 4th 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. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on MOD. Oppenheimer boosted their target price on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Roth Mkm initiated coverage on shares of Modine Manufacturing in a research report on Wednesday, February 18th. They set a “buy” rating and a $263.00 target price on the stock. UBS Group boosted their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. B. Riley Financial upped their target price on shares of Modine Manufacturing from $250.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Modine Manufacturing currently has a consensus rating of “Moderate Buy” and an average target price of $327.14.

Modine Manufacturing Stock Up 0.0%

MOD opened at $285.09 on Thursday. The firm has a 50 day moving average price of $264.32 and a 200 day moving average price of $208.21. The company has a market cap of $15.06 billion, a PE ratio of 127.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.25 and a current ratio of 1.94.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The company had revenue of $954.40 million during the quarter, compared to the consensus estimate of $920.67 million. During the same quarter last year, the company earned $1.12 earnings per share. Modine Manufacturing’s revenue for the quarter was up 47.5% on a year-over-year basis. Sell-side analysts expect that Modine Manufacturing Company will post 7.73 earnings per share for the current 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.