Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 2.74MM shares of Modine Manufacturing Co. (MOD). This represents 5.26% of the company.
In their previous filing dated February 10, 2022 they reported 2.88MM shares and 5.56% of the company, a decrease in shares of 4.82% and a decrease in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 4.55% Upside
As of February 8, 2023, the average one-year price target for Modine Manufacturing is $24.14. The forecasts range from a low of $23.23 to a high of $26.25. The average price target represents an increase of 4.55% from its latest reported closing price of $23.09.
The projected annual revenue for Modine Manufacturing is $2,310MM, an increase of 2.48%. The projected annual EPS is $1.77, an increase of 29.29%.
What is the Fund Sentiment?
There are 432 funds or institutions reporting positions in Modine Manufacturing. This is an increase of 24 owner(s) or 5.88% in the last quarter. Average portfolio weight of all funds dedicated to MOD is 0.19%, an increase of 29.13%. Total shares owned by institutions decreased in the last three months by 0.62% to 57,055K shares. The put/call ratio of MOD is 0.21, indicating a bullish outlook.
What are large shareholders doing?
Frontier Capital Management Co holds 4,028K shares representing 7.73% ownership of the company. In it's prior filing, the firm reported owning 3,455K shares, representing an increase of 14.23%. The firm increased its portfolio allocation in MOD by 45.92% over the last quarter.
Gamco Investors, Inc. Et Al holds 3,210K shares representing 6.16% ownership of the company. In it's prior filing, the firm reported owning 3,228K shares, representing a decrease of 0.58%. The firm increased its portfolio allocation in MOD by 31.23% over the last quarter.
Paradigm Capital Management holds 2,444K shares representing 4.69% ownership of the company. In it's prior filing, the firm reported owning 2,563K shares, representing a decrease of 4.89%. The firm decreased its portfolio allocation in MOD by 23.06% over the last quarter.
Segall Bryant & Hamill holds 1,949K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 1,912K shares, representing an increase of 1.92%. The firm increased its portfolio allocation in MOD by 32.58% over the last quarter.
Principal Financial Group holds 1,855K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 1,981K shares, representing a decrease of 6.77%. The firm decreased its portfolio allocation in MOD by 26.27% over the last quarter.
Modine Manufacturing Background Information
(This description is provided by the company.)
Modine, with fiscal 2020 revenues of $2.0 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling components, original equipment products, and systems to diversified global markets through its four complementary segments: CIS; BHVAC; HDE; and Automotive. Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia.
This story originally appeared on Fintel.
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