Significant Wealth Partners LLC Sells 2,818 Shares of Modine Manufacturing Company $MOD

Significant Wealth Partners LLC lowered its holdings in Modine Manufacturing Company (NYSE:MOD) by 54.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,342 shares of the auto parts company’s stock after selling 2,818 shares during the period. Significant Wealth Partners LLC’s holdings in Modine Manufacturing were worth $313,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MOD. First Horizon Corp purchased a new stake in Modine Manufacturing in the third quarter valued at approximately $38,000. Sunbelt Securities Inc. bought a new stake in Modine Manufacturing during the third quarter valued at approximately $39,000. Danske Bank A S purchased a new position in Modine Manufacturing in the 3rd quarter worth approximately $43,000. Toth Financial Advisory Corp bought a new position in shares of Modine Manufacturing in the 3rd quarter worth $57,000. Finally, AdvisorShares Investments LLC increased its holdings in shares of Modine Manufacturing by 154.0% in the 3rd quarter. AdvisorShares Investments LLC now owns 475 shares of the auto parts company’s stock worth $68,000 after buying an additional 288 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Wall Street Analyst Weigh In

MOD has been the subject of a number of research analyst reports. Zacks Research raised shares of Modine Manufacturing from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Roth Mkm started coverage on Modine Manufacturing in a research note on Wednesday, February 18th. They issued a “buy” rating and a $263.00 target price on the stock. Oppenheimer raised their price target on Modine Manufacturing from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. DA Davidson lifted their price target on Modine Manufacturing from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Modine Manufacturing in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Buy” and an average price target of $223.20.

Insiders Place Their Bets

In related news, Director Suresh V. Garimella sold 1,100 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $184.07, for a total transaction of $202,477.00. Following the completion of the sale, the director directly owned 79,856 shares in the company, valued at $14,699,093.92. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.48% of the stock is owned by corporate insiders.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $196.66 on Friday. The stock has a market cap of $10.37 billion, a PE ratio of 109.25, a PEG ratio of 1.23 and a beta of 1.67. The company’s fifty day moving average is $190.71 and its 200 day moving average is $161.88. Modine Manufacturing Company has a 52 week low of $64.79 and a 52 week high of $243.80. The company has a quick ratio of 1.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.51.

Modine Manufacturing (NYSE:MOD) last posted its quarterly earnings results on Wednesday, February 4th. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. Modine Manufacturing had a net margin of 3.40% and a return on equity of 22.99%. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $763.54 million. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s revenue was up 30.5% on a year-over-year basis. Research analysts anticipate that Modine Manufacturing Company will post 3.88 earnings per share 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.