California Public Employees Retirement System Raises Stock Holdings in Modine Manufacturing Company $MOD

California Public Employees Retirement System boosted its holdings in shares of Modine Manufacturing Company (NYSE:MOD) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,788 shares of the auto parts company’s stock after purchasing an additional 2,642 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Modine Manufacturing worth $20,108,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Modine Manufacturing during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $25,000. Spire Wealth Management acquired a new stake in shares of Modine Manufacturing in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. bought a new position in shares of Modine Manufacturing during the third quarter worth about $39,000. Finally, Danske Bank A S bought a new position in shares of Modine Manufacturing during the third quarter worth about $43,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Glj Research restated a “buy” rating and set a $428.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 1st. Oppenheimer lifted their target price on Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. UBS Group boosted their price target on Modine Manufacturing to $310.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. KeyCorp upped their price target on Modine Manufacturing from $250.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, DA Davidson restated a “buy” rating and set a $330.00 price objective on shares of Modine Manufacturing in a research note on Monday, June 22nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $327.14.

Modine Manufacturing Stock Performance

Shares of MOD opened at $249.51 on Thursday. The firm has a fifty day moving average of $263.53 and a 200-day moving average of $226.75. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 111.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.67. 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 Company has a 1 year low of $94.55 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings data on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share 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 firm had revenue of $954.40 million for the quarter, compared to the consensus estimate of $920.67 million. During the same period last year, the firm posted $1.12 EPS. Modine Manufacturing’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities analysts anticipate that Modine Manufacturing Company will post 7.72 earnings per share for the current year.

Insider Activity

In other Modine Manufacturing news, insider Eric S. Mcginnis sold 1,020 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $295.06, for a total transaction of $300,961.20. Following the completion of the transaction, the insider owned 28,364 shares in the company, valued at approximately $8,369,081.84. The trade was a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric D. Ashleman sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $288.54, for a total value of $4,328,100.00. Following the completion of the transaction, the director directly owned 42,350 shares of the company’s stock, valued at approximately $12,219,669. The trade was a 26.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 54,302 shares of company stock valued at $15,928,759. Insiders own 1.92% of the company’s stock.

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.