Modine Manufacturing (NYSE:MOD) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its stake in Modine Manufacturing (NYSE:MOD) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,070 shares of the auto parts company’s stock after selling 1,193 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Modine Manufacturing were worth $587,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Modine Manufacturing by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,058,967 shares of the auto parts company’s stock valued at $586,486,000 after buying an additional 70,581 shares in the last quarter. Invesco Ltd. raised its position in shares of Modine Manufacturing by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,012,533 shares of the auto parts company’s stock valued at $233,313,000 after acquiring an additional 20,085 shares in the last quarter. Wasatch Advisors LP lifted its stake in Modine Manufacturing by 108.0% during the fourth quarter. Wasatch Advisors LP now owns 1,428,415 shares of the auto parts company’s stock worth $165,596,000 after purchasing an additional 741,667 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Modine Manufacturing by 2.4% in the third quarter. Principal Financial Group Inc. now owns 1,152,735 shares of the auto parts company’s stock worth $153,072,000 after purchasing an additional 26,527 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in Modine Manufacturing by 22.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 575,223 shares of the auto parts company’s stock valued at $66,686,000 after purchasing an additional 106,033 shares during the last quarter. Institutional investors own 95.23% of the company’s stock.

Insiders Place Their Bets

In related news, Director William A. Wulfsohn acquired 2,530 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $79.43 per share, for a total transaction of $200,957.90. Following the completion of the purchase, the director now directly owns 7,277 shares of the company’s stock, valued at $578,012.11. The trade was a 53.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

Modine Manufacturing Stock Up 1.5 %

Modine Manufacturing stock opened at $81.77 on Wednesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 27.44, a P/E/G ratio of 0.71 and a beta of 2.19. The company has a 50-day simple moving average of $80.38 and a 200-day simple moving average of $107.23. Modine Manufacturing has a one year low of $64.79 and a one year high of $146.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.87.

Modine Manufacturing (NYSE:MOD) last announced its quarterly 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 net margin of 6.31% and a return on equity of 24.25%. As a group, equities analysts expect that Modine Manufacturing will post 3.88 earnings per share for the current year.

Modine Manufacturing announced that its Board of Directors has authorized a stock buyback plan on Friday, March 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the auto parts company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “buy” rating and issued a $155.00 price target on shares of Modine Manufacturing in a report 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.