Envestnet Asset Management Inc. Has $13.58 Million Stake in Modine Manufacturing Company $MOD

Envestnet Asset Management Inc. raised its position in Modine Manufacturing Company (NYSE:MOD) by 17.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,520 shares of the auto parts company’s stock after buying an additional 13,975 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Modine Manufacturing worth $13,579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Champlain Investment Partners LLC increased its holdings in Modine Manufacturing by 244.3% in the second quarter. Champlain Investment Partners LLC now owns 743,643 shares of the auto parts company’s stock worth $73,249,000 after purchasing an additional 527,626 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Modine Manufacturing by 954.8% during the third quarter. Congress Asset Management Co. now owns 527,480 shares of the auto parts company’s stock valued at $74,987,000 after buying an additional 477,473 shares during the last quarter. Norges Bank bought a new stake in shares of Modine Manufacturing in the 2nd quarter worth $41,081,000. Hood River Capital Management LLC lifted its holdings in Modine Manufacturing by 222.8% during the second quarter. Hood River Capital Management LLC now owns 564,466 shares of the auto parts company’s stock worth $55,600,000 after acquiring an additional 389,574 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 worth approximately $28,322,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. DA Davidson lifted their target price on shares of Modine Manufacturing from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of Modine Manufacturing from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Monday, December 29th. Finally, Oppenheimer raised their price objective on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $213.25.

Modine Manufacturing Trading Up 0.4%

Shares of Modine Manufacturing stock opened at $216.35 on Tuesday. Modine Manufacturing Company has a fifty-two week low of $64.79 and a fifty-two week high of $235.02. The company has a market cap of $11.41 billion, a P/E ratio of 120.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 2.19. The firm has a 50-day simple moving average of $155.71 and a two-hundred day simple moving average of $150.00.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 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 business had revenue of $805.00 million for the quarter, compared to analyst estimates of $763.54 million. During the same quarter in the previous year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities analysts predict that Modine Manufacturing Company will post 3.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Modine Manufacturing

In other Modine Manufacturing news, Director Suresh V. Garimella sold 1,100 shares of Modine Manufacturing stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $184.07, for a total value of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares of the company’s stock, valued at approximately $14,699,093.92. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil David Brinker sold 31,871 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $160.56, for a total value of $5,117,207.76. Following the sale, the chief executive officer owned 238,312 shares of the company’s stock, valued at $38,263,374.72. The trade was a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,071 shares of company stock worth $5,484,685 over the last three months. 2.48% of the stock is currently owned by insiders.

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.