RBC Sells MOD Stake Amid Modine Manufacturing's Surging Revenue

Royal Bank of Canada (RBC) decreased its stake in Modine Manufacturing Company (NYSE:MOD) by 8.9% during the first quarter, according to a recent 13F filing with the Securities & Exchange Commission.

The institutional investor owned 78,688 shares of MOD's stock after selling 7,674 shares during the period. This stake is worth approximately $17.05 million at the end of the most recent quarter, accounting for about 0.15% of Modine Manufacturing's total value.

Modine Manufacturing reported a strong quarterly earnings result on July 28th, beating analyst estimates by $0.26 per share. The company's revenue increased by 28.0% year-over-year, reaching $874.10 million in the second quarter.