BNP Paribas Financial Markets Buys 5,235 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

BNP Paribas Financial Markets lifted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 15.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,027 shares of the industrial products company's stock after purchasing an additional 5,235 shares during the period. BNP Paribas Financial Markets owned 0.09% of Franklin Electric worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in Franklin Electric by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company's stock worth $212,810,000 after acquiring an additional 40,248 shares during the period. Earnest Partners LLC increased its position in shares of Franklin Electric by 2.6% in the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company's stock worth $150,560,000 after purchasing an additional 39,478 shares during the period. Boston Trust Walden Corp increased its position in shares of Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock worth $69,082,000 after purchasing an additional 3,847 shares during the period. KBC Group NV raised its stake in Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company's stock valued at $40,571,000 after purchasing an additional 63,436 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Franklin Electric by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company's stock worth $34,833,000 after purchasing an additional 21,890 shares during the period. Institutional investors own 79.98% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their target price on shares of Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Price Performance

Shares of Franklin Electric stock traded down $0.92 during trading on Thursday, reaching $106.97. 96,918 shares of the company's stock were exchanged, compared to its average volume of 176,393. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric Co., Inc. has a 1-year low of $89.90 and a 1-year high of $111.94. The company has a market cap of $4.89 billion, a P/E ratio of 27.08, a PEG ratio of 2.35 and a beta of 0.98. The firm's 50-day moving average price is $104.90 and its 200 day moving average price is $101.13.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm's revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. As a group, research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. Franklin Electric's payout ratio is presently 25.32%.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 14.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.72% of the company's stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.