Sovereign Financial Group Inc. Grows Position in Modine Manufacturing (NYSE:MOD)

Sovereign Financial Group Inc. grew its position in Modine Manufacturing (NYSE:MOD) by 18.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,367 shares of the auto parts company’s stock after acquiring an additional 363 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Modine Manufacturing were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MOD. DekaBank Deutsche Girozentrale bought a new stake in Modine Manufacturing in the second quarter worth $68,000. Private Trust Co. NA grew its stake in shares of Modine Manufacturing by 650.5% in the 3rd quarter. Private Trust Co. NA now owns 773 shares of the auto parts company’s stock worth $103,000 after buying an additional 670 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Modine Manufacturing by 90.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,031 shares of the auto parts company’s stock worth $137,000 after buying an additional 491 shares during the last quarter. KBC Group NV raised its position in shares of Modine Manufacturing by 47.8% during the 3rd quarter. KBC Group NV now owns 1,456 shares of the auto parts company’s stock valued at $193,000 after buying an additional 471 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Modine Manufacturing in the 3rd quarter valued at about $196,000. 95.23% of the stock is owned by hedge funds and other institutional investors.

Modine Manufacturing Stock Performance

Modine Manufacturing stock opened at $129.96 on Thursday. Modine Manufacturing has a 1-year low of $60.00 and a 1-year high of $146.84. The company’s 50-day moving average is $127.24 and its 200 day moving average is $119.68. The firm has a market capitalization of $6.82 billion, a P/E ratio of 42.61, a price-to-earnings-growth ratio of 1.01 and a beta of 2.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.77 and a quick ratio of 1.09.

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

Analysts Set New Price Targets

MOD has been the topic of several analyst reports. DA Davidson boosted their price objective on Modine Manufacturing from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer increased their price target on Modine Manufacturing from $144.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and an average target price of $146.67.

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.