Modine Manufacturing (NYSE:MOD) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in Modine Manufacturing (NYSE:MOD) by 8.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,791 shares of the auto parts company’s stock after purchasing an additional 136 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Modine Manufacturing were worth $208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ increased its position in shares of Modine Manufacturing by 567.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 227 shares of the auto parts company’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. Principal Securities Inc. grew its stake in Modine Manufacturing by 97.8% in the 4th quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock valued at $63,000 after acquiring an additional 269 shares during the last quarter. Private Trust Co. NA increased its holdings in Modine Manufacturing by 650.5% during the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Modine Manufacturing by 6.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock valued at $157,000 after purchasing an additional 82 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of Modine Manufacturing by 34.4% in the fourth quarter. Rothschild Investment LLC now owns 1,720 shares of the auto parts company’s stock valued at $199,000 after purchasing an additional 440 shares in the last quarter. 95.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and set a $155.00 price objective on shares of Modine Manufacturing in a research note on Monday, March 17th.

Modine Manufacturing Trading Down 1.1 %

Shares of MOD stock opened at $79.12 on Friday. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.71 and a beta of 2.48. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $93.98 and a 200 day moving average price of $115.29. Modine Manufacturing has a twelve month low of $72.49 and a twelve month high of $146.84.

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

Modine Manufacturing announced that its Board of Directors has initiated a stock buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the auto parts company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Modine Manufacturing

In related news, Director William A. Wulfsohn purchased 2,530 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.