Navellier & Associates Inc. Has $1.26 Million Stake in Modine Manufacturing (NYSE:MOD)

Navellier & Associates Inc. lifted its stake in shares of Modine Manufacturing (NYSE:MOD) by 58.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,824 shares of the auto parts company’s stock after purchasing an additional 4,006 shares during the period. Navellier & Associates Inc.’s holdings in Modine Manufacturing were worth $1,255,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in shares of Modine Manufacturing by 6.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,353 shares of the auto parts company’s stock worth $157,000 after purchasing an additional 82 shares in the last quarter. Truist Financial Corp lifted its position in shares of Modine Manufacturing by 0.5% during the fourth quarter. Truist Financial Corp now owns 34,267 shares of the auto parts company’s stock worth $3,973,000 after purchasing an additional 159 shares in the last quarter. Principal Securities Inc. increased its position in Modine Manufacturing by 97.8% in the fourth quarter. Principal Securities Inc. now owns 544 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 269 shares during the period. Legend Financial Advisors Inc. raised its holdings in Modine Manufacturing by 2.9% during the 4th quarter. Legend Financial Advisors Inc. now owns 9,929 shares of the auto parts company’s stock worth $1,151,000 after purchasing an additional 279 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Modine Manufacturing by 10.4% during the 4th quarter. Inspire Investing LLC now owns 3,442 shares of the auto parts company’s stock worth $399,000 after purchasing an additional 325 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised their target price on shares of Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

Modine Manufacturing Stock Down 8.3 %

Shares of NYSE:MOD opened at $86.29 on Friday. Modine Manufacturing has a one year low of $78.58 and a one year high of $146.84. The company has a 50 day moving average of $113.12 and a 200-day moving average of $119.63. 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 stock has a market cap of $4.54 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 0.71 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last issued 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 net margin of 6.31% and a return on equity of 24.25%. On average, sell-side analysts forecast that Modine Manufacturing will post 3.88 earnings per share 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.