Modine Manufacturing (NYSE:MOD) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in Modine Manufacturing (NYSE:MOD) by 53.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,240 shares of the auto parts company’s stock after selling 10,760 shares during the period. Congress Wealth Management LLC DE’s holdings in Modine Manufacturing were worth $1,071,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. William Blair Investment Management LLC lifted its holdings in Modine Manufacturing by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 247,400 shares of the auto parts company’s stock worth $28,681,000 after acquiring an additional 17,599 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Modine Manufacturing in the 4th quarter worth approximately $452,000. New York State Common Retirement Fund boosted its position in Modine Manufacturing by 9.9% during the 4th quarter. New York State Common Retirement Fund now owns 247,975 shares of the auto parts company’s stock valued at $28,748,000 after purchasing an additional 22,259 shares during the period. Legend Financial Advisors Inc. boosted its position 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 valued at $1,151,000 after purchasing an additional 279 shares during the period. Finally, Peregrine Capital Management LLC grew its stake in Modine Manufacturing by 10.9% during the 4th quarter. Peregrine Capital Management LLC now owns 100,949 shares of the auto parts company’s stock worth $11,703,000 after buying an additional 9,920 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insider Activity at Modine Manufacturing

In related news, Director William A. Wulfsohn bought 2,530 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $79.43 per share, with a total value of $200,957.90. Following the purchase, the director now owns 7,277 shares in the company, valued at approximately $578,012.11. This represents a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Modine Manufacturing Price Performance

Shares of NYSE:MOD opened at $80.11 on Friday. The firm’s 50 day moving average is $95.07 and its two-hundred day moving average is $115.42. The firm has a market capitalization of $4.21 billion, a P/E ratio of 26.88, 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. Modine Manufacturing has a 52 week low of $72.49 and a 52 week high of $146.84.

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

Modine Manufacturing declared that its board has approved a share buyback plan on Friday, March 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Modine Manufacturing Profile

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.