Modine Manufacturing Co. (NASDAQ:MOD) announced insider transactions involving Executive Vice President and Chief Financial Officer Michael B. Lucareli on February 17, 2026. Lucareli sold a total of 19,595 shares of company stock that day, with sale prices spanning $217.1546 to $222.01 and aggregate proceeds of approximately $4.3 million.
The divestitures were completed across multiple trades. The breakdown is as follows:
- 4,478 shares sold at an average price of $217.1546, totaling $972,400
- 5,097 shares sold at an average price of $218.1640, totaling $1,112,988
- 2,284 shares sold at an average price of $219.1892, totaling $500,538
- 3,326 shares sold at an average price of $220.4946, totaling $733,314
- 4,356 shares sold at an average price of $221.1408, totaling $963,298
- 54 shares sold at $222.01, totaling $11,989
Also on February 17, 2026, Lucareli exercised stock options to obtain 19,595 shares of Modine stock at an exercise price of $6.62 per share, for a total cash requirement of $129718.
After these transactions, Lucareli's direct ownership of Modine Manufacturing Co. stands at 55,578 shares. That total includes 971 units held in the reporting person’s Modine 401(k) Retirement Plan account.
These insider moves come shortly after Modine reported its fiscal third-quarter 2026 results, which showed sales of $805 million. The company exceeded consensus estimates by 6%, a performance the company attributed in part to a 21% organic growth rate that was driven largely by its expanding data center business. Following the quarterly results, Modine raised its fiscal year 2026 guidance.
Brokerages reacted by adjusting valuations and recommendations. Oppenheimer raised its price target for Modine to $240 and maintained an Outperform rating. KeyBanc Capital Markets lifted its target to $250, specifically citing the company's execution in data center operations. Roth/MKM started coverage with a Buy rating and set a $263 price target, noting growth in data center cooling technologies. DA Davidson reiterated a Buy rating with a $265 target and adjusted revenue growth expectations upward for coming fiscal years based on anticipated acceleration in core growth. UBS also reiterated a Buy rating and set a $210 price target, highlighting accelerating data center sales and improving margins.
The sequence of the insider sale, the option exercise, and the company’s reported results provide a compact picture of recent activity around Modine stock. The stock transactions are factual record; no reasons for the sales were provided in the filings. Similarly, the company’s reported outperformance and the subsequent analyst actions are matters of record as reported.