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RACINE, Wis. – Modine Manufacturing Company (NYSE:MOD) announced Tuesday the creation of a separate Data Centers segment and promoted Art Laszlo to president of the new division, effective April 1. The stock traded at $256.99, near its 52-week high of $258.87, with shares up 92% year-to-date as the company’s market capitalization reached $13.55 billion.
The Data Centers segment was previously part of Modine’s Climate Solutions segment. Eric McGinnis will continue to lead the remaining Climate Solutions operations until his planned retirement. The company will begin reporting the two segments separately with its first quarter fiscal 2027 results.
Laszlo joined Modine in 2022 and has held several senior leadership positions at the company. Before joining Modine, he served as President of Advanced Flow Solutions at IDEX, focusing on the downstream oil and gas sector. He previously held leadership roles at General Electric, Brunswick Corporation, Mars Incorporated, and General Motors.
The Performance Technologies segment will continue as a separate reporting unit until its spin-off later this calendar year as part of a previously announced transaction with Gentherm.
Modine manufactures thermal management technology and cooling solutions for data center operators. The company, headquartered in Racine, Wisconsin, employs more than 11,000 people worldwide with operations in North America, South America, Europe, and Asia. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value, with 19 additional ProTips available to subscribers.
The information is based on a press release statement from Modine.
In other recent news, Modine Manufacturing Co. has joined the U.S. Department of Energy’s Better Plants program, which aims to enhance industrial energy efficiency. The company also received a B score for Climate Change and Water Security in the 2025 CDP survey, highlighting its commitment to sustainability. On the financial front, DA Davidson reiterated a Buy rating for Modine Manufacturing, maintaining a price target of $265.00 after discussions with company leadership. GLJ Research initiated coverage with a Buy rating and set a Street-high price target of $290.00, citing growth in the data center segment. Similarly, Roth/MKM started coverage with a Buy rating and a target of $263.00, noting Modine’s expansion in data center cooling technologies through organic growth and acquisitions. DA Davidson also revised its revenue growth projections upward for Modine’s data center-related business, leading to increased adjusted EBITDA forecasts for the coming fiscal years. These developments underscore Modine’s strategic focus on sustainability and growth in the data center market.
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