32,275 Shares in Modine Manufacturing Company $MOD Acquired by Geneva Partners LLC

Geneva Partners LLC purchased a new position in Modine Manufacturing Company (NYSE:MOD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,275 shares of the auto parts company’s stock, valued at approximately $6,994,000. Modine Manufacturing makes up approximately 3.4% of Geneva Partners LLC’s portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of MOD. Schear Investment Advisers LLC raised its position in shares of Modine Manufacturing by 8.5% during the first quarter. Schear Investment Advisers LLC now owns 25,967 shares of the auto parts company’s stock worth $5,627,000 after purchasing an additional 2,036 shares during the period. Abel Hall LLC grew its holdings in shares of Modine Manufacturing by 38.4% during the first quarter. Abel Hall LLC now owns 2,876 shares of the auto parts company’s stock valued at $623,000 after buying an additional 798 shares during the last quarter. AdvisorShares Investments LLC raised its holdings in shares of Modine Manufacturing by 70.0% in the 1st quarter. AdvisorShares Investments LLC now owns 1,134 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 467 shares during the last quarter. Praxis Investment Management Inc. bought a new position in Modine Manufacturing in the 1st quarter valued at about $340,000. Finally, Koshinski Asset Management Inc. bought a new stake in Modine Manufacturing during the 1st quarter worth approximately $546,000. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp raised their price objective on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. Zacks Research downgraded Modine Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Glj Research reiterated a “buy” rating and set a $428.00 price target on shares of Modine Manufacturing in a report on Monday, June 1st. Finally, Oppenheimer raised their target price on Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Modine Manufacturing has a consensus rating of “Moderate Buy” and an average price target of $327.14.

Insiders Place Their Bets

In related news, VP Brian Jon Agen sold 38,282 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.17, for a total transaction of $11,299,697.94. Following the sale, the vice president owned 66,343 shares of the company’s stock, valued at approximately $19,582,463.31. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric S. Mcginnis sold 1,020 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the sale, the insider directly owned 28,364 shares in the company, valued at $8,369,081.84. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,302 shares of company stock worth $15,928,759 in the last quarter. 2.48% of the stock is owned by company insiders.

Modine Manufacturing Stock Down 2.0%

MOD opened at $230.60 on Wednesday. Modine Manufacturing Company has a 12 month low of $86.48 and a 12 month high of $323.25. The company has a market cap of $12.18 billion, a PE ratio of 102.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.67. The company has a current ratio of 1.94, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $269.56 and a 200 day moving average of $218.97.

Modine Manufacturing (NYSE:MOD) last issued its earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.20. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. The business had revenue of $954.40 million for the quarter, compared to analysts’ expectations of $920.67 million. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 47.5% compared to the same quarter last year. On average, sell-side analysts expect that Modine Manufacturing Company will post 7.73 EPS for the current 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.