Modine Manufacturing (NYSE:MOD) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lessened its position in shares of Modine Manufacturing (NYSE:MOD - Free Report) by 70.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,818 shares of the auto parts company's stock after selling 16,145 shares during the quarter. Navellier & Associates Inc.'s holdings in Modine Manufacturing were worth $905,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its stake in shares of Modine Manufacturing by 9.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company's stock valued at $117,000 after buying an additional 104 shares in the last quarter. Xponance Inc. boosted its stake in shares of Modine Manufacturing by 4.9% in the second quarter. Xponance Inc. now owns 3,270 shares of the auto parts company's stock valued at $328,000 after buying an additional 153 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Modine Manufacturing by 0.7% in the second quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company's stock valued at $2,123,000 after buying an additional 155 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of Modine Manufacturing by 2.9% in the second quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company's stock valued at $701,000 after buying an additional 200 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Modine Manufacturing by 7.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company's stock valued at $314,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. William Blair assumed coverage on Modine Manufacturing in a research note on Monday, July 29th. They issued an "outperform" rating on the stock. DA Davidson boosted their target price on Modine Manufacturing from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Oppenheimer boosted their target price on Modine Manufacturing from $144.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, B. Riley boosted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $146.67.

Modine Manufacturing Price Performance

Shares of NYSE MOD traded up $2.73 during trading on Friday, reaching $143.22. The company had a trading volume of 368,050 shares, compared to its average volume of 849,448. Modine Manufacturing has a twelve month low of $48.88 and a twelve month high of $144.02. The stock has a market capitalization of $7.52 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 1.04 and a beta of 2.25. The stock has a 50-day moving average price of $128.14 and a two-hundred day moving average price of $112.29. The company has a current ratio of 1.77, a quick ratio of 1.09 and a debt-to-equity ratio of 0.41.

Modine Manufacturing (NYSE:MOD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.05. The company had revenue of $658.00 million during the quarter, compared to analysts' expectations of $646.86 million. Modine Manufacturing had a return on equity of 23.96% and a net margin of 6.59%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, sell-side analysts predict that Modine Manufacturing will post 3.83 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.