Janus Henderson Group PLC Decreases Stake in Modine Manufacturing (NYSE:MOD)

Janus Henderson Group PLC reduced its stake in Modine Manufacturing (NYSE:MOD) by 6.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,278 shares of the auto parts company’s stock after selling 1,600 shares during the quarter. Janus Henderson Group PLC’s holdings in Modine Manufacturing were worth $2,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Banque Cantonale Vaudoise raised its position in shares of Modine Manufacturing by 9.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,165 shares of the auto parts company’s stock valued at $117,000 after purchasing an additional 104 shares during the last quarter. Xponance Inc. increased its holdings in Modine Manufacturing by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,270 shares of the auto parts company’s stock worth $328,000 after buying an additional 153 shares during the period. SummerHaven Investment Management LLC increased its holdings in Modine Manufacturing by 0.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 21,194 shares of the auto parts company’s stock worth $2,123,000 after buying an additional 155 shares during the period. Ameritas Advisory Services LLC increased its holdings in shares of Modine Manufacturing by 2.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,000 shares of the auto parts company’s stock valued at $701,000 after purchasing an additional 200 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Modine Manufacturing by 7.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,132 shares of the auto parts company’s stock valued at $314,000 after purchasing an additional 212 shares in the last quarter. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Trading Up 0.9 %

Shares of MOD opened at $131.52 on Thursday. Modine Manufacturing has a 52-week low of $51.41 and a 52-week high of $146.84. The company has a quick ratio of 1.09, a current ratio of 1.77 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $130.47 and its two-hundred day moving average is $115.23. The stock has a market cap of $6.90 billion, a PE ratio of 43.11, a price-to-earnings-growth ratio of 1.08 and a beta of 2.31.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Tuesday, October 29th. The auto parts company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $646.86 million. Modine Manufacturing had a net margin of 6.59% and a return on equity of 23.96%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. Research analysts forecast that Modine Manufacturing will post 3.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MOD has been the subject of several recent research reports. DA Davidson lifted their target price on shares of Modine Manufacturing from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Oppenheimer boosted their price target on shares of Modine Manufacturing from $144.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.67.

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.