Great West Life Assurance Co. Can cut its holdings in shares of Methode Electronics Inc. (NYSE:MEI) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,029 shares of the electronics maker’s stock after selling 905 shares during the period. Great West Life Assurance Co. Can’s holdings in Methode Electronics were worth $1,439,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Capital Group LLC increased its position in shares of Methode Electronics by 155.2% during the first quarter. Private Capital Group LLC now owns 906 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 551 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Methode Electronics by 3,282.1% during the first quarter. Versant Capital Management Inc now owns 947 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 919 shares in the last quarter. US Bancorp DE increased its position in shares of Methode Electronics by 8.3% during the first quarter. US Bancorp DE now owns 6,053 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 462 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Methode Electronics by 328.8% during the first quarter. BNP Paribas Arbitrage SA now owns 8,306 shares of the electronics maker’s stock worth $239,000 after purchasing an additional 6,369 shares in the last quarter. Finally, Brinker Capital Inc. acquired a new position in shares of Methode Electronics during the first quarter worth $265,000. 92.38% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on MEI shares. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a research report on Thursday, March 7th. Craig Hallum raised Methode Electronics from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $42.00 in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.25.

Shares of MEI stock traded down $0.13 during trading hours on Wednesday, reaching $26.43. 13,115 shares of the company’s stock were exchanged, compared to its average volume of 236,561. The company has a market cap of $945.73 million, a PE ratio of 8.81 and a beta of 1.48. The company has a current ratio of 2.53, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43. Methode Electronics Inc. has a fifty-two week low of $20.99 and a fifty-two week high of $45.45.

In related news, CAO Amit N. Patel acquired 1,021 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average cost of $27.54 per share, with a total value of $28,118.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: “Methode Electronics Inc. (NYSE:MEI) Stake Lessened by Great West Life Assurance Co. Can” was originally published by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://www.watchlistnews.com/methode-electronics-inc-nysemei-stake-lessened-by-great-west-life-assurance-co-can/3039250.html.

About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

Featured Story: Investing in Blue-Chip Stocks

Want to see what other hedge funds are holding MEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methode Electronics Inc. (NYSE:MEI).

Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.