Modine Manufacturing (NYSE:MOD) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE decreased its holdings in Modine Manufacturing (NYSE:MOD) by 53.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,240 shares of the auto parts company’s stock after selling 10,760 shares during the period. Congress Wealth Management LLC DE’s holdings in Modine Manufacturing were worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Modine Manufacturing by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock valued at $586,486,000 after acquiring an additional 70,581 shares during the period. FMR LLC increased its holdings in Modine Manufacturing by 14.0% in the 3rd quarter. FMR LLC now owns 4,417,927 shares of the auto parts company’s stock valued at $586,657,000 after purchasing an additional 543,419 shares in the last quarter. State Street Corp raised its position in Modine Manufacturing by 1.5% in the third quarter. State Street Corp now owns 1,219,916 shares of the auto parts company’s stock valued at $161,993,000 after purchasing an additional 18,108 shares during the period. Geode Capital Management LLC lifted its stake in shares of Modine Manufacturing by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,170,958 shares of the auto parts company’s stock worth $155,522,000 after purchasing an additional 9,648 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after buying an additional 26,527 shares during the period. 95.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “buy” rating and set a $155.00 target price on shares of Modine Manufacturing in a report on Monday, March 17th.

Modine Manufacturing Stock Performance

Shares of MOD stock opened at $80.11 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.87 and a quick ratio of 1.18. The company’s fifty day moving average price is $95.07 and its two-hundred day moving average price is $115.42. The firm has a market capitalization of $4.21 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.71 and a beta of 2.48. Modine Manufacturing has a 12 month low of $72.49 and a 12 month high of $146.84.

Modine Manufacturing (NYSE:MOD) last released its quarterly earnings results on Tuesday, February 4th. The auto parts company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.79 by $0.13. Modine Manufacturing had a return on equity of 24.25% and a net margin of 6.31%. On average, research analysts anticipate that Modine Manufacturing will post 3.88 earnings per share for the current fiscal year.

Modine Manufacturing declared that its board has approved a share repurchase program on Friday, March 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of Modine Manufacturing stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, with a total value of $200,957.90. Following the completion of the transaction, the director now owns 7,277 shares of the company’s stock, valued at approximately $578,012.11. This trade represents a 53.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

About Modine Manufacturing

Modine Manufacturing Company provides thermal management products and solutions in the United States, Italy, Hungary, China, the United Kingdom, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer coils, including heat recovery and round tube plate fin coils; gas-fired, hydronic, electric and oilfired unit heaters; roof-mounted direct- and indirect-fired makeup air units; duct furnaces; infrared units; perimeter heating products; single packaged unit ventilators; modular chillers; air handler and condensing units; ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers.