Goldman Sachs Group Inc. Sells 143,140 Shares of Modine Manufacturing Company $MOD

Goldman Sachs Group Inc. reduced its position in shares of Modine Manufacturing Company (NYSE:MOD) by 16.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 713,537 shares of the auto parts company’s stock after selling 143,140 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Modine Manufacturing were worth $95,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its holdings in Modine Manufacturing by 583.1% in the 4th quarter. Perigon Wealth Management LLC now owns 15,171 shares of the auto parts company’s stock worth $2,025,000 after purchasing an additional 12,950 shares in the last quarter. Wisconsin Capital Management LLC raised its holdings in Modine Manufacturing by 227.9% in the 3rd quarter. Wisconsin Capital Management LLC now owns 23,071 shares of the auto parts company’s stock worth $3,280,000 after purchasing an additional 16,034 shares in the last quarter. Congress Asset Management Co. raised its holdings in Modine Manufacturing by 7.8% in the 4th quarter. Congress Asset Management Co. now owns 568,853 shares of the auto parts company’s stock worth $75,948,000 after purchasing an additional 41,373 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Modine Manufacturing by 12.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 48,189 shares of the auto parts company’s stock worth $6,851,000 after purchasing an additional 5,319 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Modine Manufacturing by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,497 shares of the auto parts company’s stock worth $166,540,000 after purchasing an additional 151,543 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors.

Modine Manufacturing Stock Up 1.3%

Shares of Modine Manufacturing stock opened at $278.77 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.25. The company has a 50-day moving average of $256.98 and a 200 day moving average of $202.90. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 124.45, a PEG ratio of 0.89 and a beta of 1.65. Modine Manufacturing Company has a 1 year low of $86.48 and a 1 year high of $323.25.

Modine Manufacturing (NYSE:MOD) last issued its quarterly earnings results on Tuesday, May 26th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.20. The company had revenue of $954.40 million during the quarter, compared to analyst estimates of $920.67 million. Modine Manufacturing had a net margin of 3.82% and a return on equity of 24.39%. Modine Manufacturing’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, sell-side analysts anticipate that Modine Manufacturing Company will post 7.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on MOD shares. Oppenheimer upped their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Modine Manufacturing from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Roth Mkm started coverage on shares of Modine Manufacturing in a report on Wednesday, February 18th. They issued a “buy” rating and a $263.00 price objective for the company. KeyCorp upped their price objective on shares of Modine Manufacturing from $250.00 to $370.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, UBS Group upped their price objective on shares of Modine Manufacturing to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Modine Manufacturing currently has an average rating of “Moderate Buy” and a consensus price target of $327.14.

About Modine Manufacturing

Modine Manufacturing Company (NYSE:MOD) is a global provider of thermal management solutions serving automotive, commercial transportation, heavy-duty off-highway, industrial, HVAC and refrigeration markets. The company designs, manufactures, tests and markets a broad array of heat-transfer products that manage temperature and energy efficiency for engines, power electronics and building climate control systems.

Its product portfolio includes heat exchangers, condensers, radiators, evaporators, charge air coolers, fan systems and associated controls.