Commonwealth Equity Services LLC Purchases 1,135 Shares of Modine Manufacturing (NYSE:MOD)

Commonwealth Equity Services LLC lifted its position in Modine Manufacturing (NYSE:MOD) by 17.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,714 shares of the auto parts company’s stock after buying an additional 1,135 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Modine Manufacturing were worth $773,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Rothschild Investment LLC bought a new stake in shares of Modine Manufacturing in the 2nd quarter valued at approximately $118,000. Ausbil Investment Management Ltd bought a new stake in Modine Manufacturing during the second quarter worth approximately $1,880,000. Peregrine Capital Management LLC bought a new stake in Modine Manufacturing during the second quarter worth approximately $10,796,000. F M Investments LLC bought a new stake in Modine Manufacturing during the second quarter worth approximately $22,600,000. Finally, Panagora Asset Management Inc. boosted its position in Modine Manufacturing by 5.9% during the second quarter. Panagora Asset Management Inc. now owns 73,986 shares of the auto parts company’s stock worth $7,413,000 after purchasing an additional 4,122 shares during the period. Institutional investors own 95.23% of the company’s stock.

Insider Buying and Selling

In related news, Director Marsha C. Williams sold 34,400 shares of Modine Manufacturing stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $109.74, for a total transaction of $3,775,056.00. Following the sale, the director now directly owns 144,038 shares of the company’s stock, valued at $15,806,730.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MOD has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $135.00 target price on shares of Modine Manufacturing in a research report on Thursday, September 12th. DA Davidson upped their target price on Modine Manufacturing from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. B. Riley upped their target price on Modine Manufacturing from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, William Blair initiated coverage on Modine Manufacturing in a research report on Monday, July 29th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Modine Manufacturing Stock Performance

NYSE MOD opened at $116.96 on Thursday. The company’s fifty day moving average is $108.21 and its two-hundred day moving average is $100.27. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 38.60, a P/E/G ratio of 0.83 and a beta of 2.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.11. Modine Manufacturing has a 52-week low of $38.50 and a 52-week high of $123.92.

Modine Manufacturing (NYSE:MOD) last released its earnings results on Tuesday, July 30th. The auto parts company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Modine Manufacturing had a return on equity of 24.92% and a net margin of 6.70%. The business had revenue of $661.50 million for the quarter, compared to the consensus estimate of $633.55 million. During the same period last year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts forecast that Modine Manufacturing will post 3.85 EPS for the current year.

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.