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Conservative Mairs & Power Decreases and Sell-outs
Posted by: Sally Jones (IP Logged)
Date: May 31, 2013 05:09PM
Established in 1931, Mairs and Power Inc. is Minnesota’s oldest, privately owned investment firm. The relatively small investment advisory firm has succeeded by applying a conservative approach for over 70 years. An officer and director of the firm since 1992, Guru Bill Frels is chairman of the board of Mairs and Power Inc., as well as the lead manager of the Mairs & Power Balanced Fund. The firm’s recently updated portfolio lists 176 stocks, 12 of them new, with a total value of $5.02 billion and a quarter-over-quarter turnover of 6%.
According to GuruFocus research, Guru Bill Frels reduced or sold out the following holdings in the first quarter of 2013. Here are the details of his trades, as of March 31, 2013.
Sold Out: SUPERVALU Inc. (SVU) – Grocery Stores
In 20 quarters of trading, Bill Frels had losses in 16 of those quarters. He sold out his remaining 80,000 shares at an average price of $3.89 for a gain of 68.6%. Frels had gains in the last four quarters of holding, from the second quarter of 2012 through the first quarter of 2013. His highest gains were in the third and fourth quarter of 2012 for 147.5% and 153.3%, respectively.
The current share price is $6.65, with a change from average up 72%.
Sold Out: Pershing Gold Corp. (PGLC) – Gold
After four quarters of trading, Bill Frels sold out 18,000 shares at an average price of $0.48 for a loss of 10.4%. Frels had gains in the third and fourth quarter of 2012 for 26.5% and 16.2%, respectively.
The current share price is $0.43, with a change from average down 10%.
Sold Out: Triumph Group Inc. (TGI) – Aerospace and Defense
After two quarters, Bill Frels sold out 3,527 shares at an average price of $72.74 for a gain of 7.4%. Frels also had gains in the fourth quarter of 2012 for 22%.
The current share price is $77.80, with a change from average up 7%.
Reduced: General Mills Inc. (GIS) – Packaged Foods
Bill Frels also reduced his position with General Mills Inc. (GIS) by 49.54%, after 20 gaining quarters of trading, as of March 31, 2013. He unloaded 22,977 shares at an average price of $44.13, making a 7.6% gain.
The current GIS share price is $47.65.
Reduced: Texas Instruments Inc. (TXN) - Semiconductors
Bill Frels also reduced his position with Texas Instruments Inc. (TXN) by 43.59%, after two gaining quarters, as of March 31, 2013. He unloaded 5,100 shares at an average price of $33.74, making a 24% gain.
The current TXN share price is $36.19.
In the first quarter of 2013, Frels also reduced positions with Associated Estates Realty Corp. (AEC) by 29.41%, Precision Castparts Corp. (PCP) by 33.67%, and Freeport-McMoRan Copper & Gold (FCX) by 23.11%. Study the rest of Mairs and Power trades.
Mairs and Power targets growth stocks and higher rated fixed income securities that are traded at a discount to their true valuation. The investment firm manages approximately $5.2 billion in assets.
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Guru Discussed: Bill Frels: Current Portfolio, Stock Picks
Stocks Discussed: SVU, PGLC, TGI, AEC, PCP, FCX, GIS, TXN,