Intech Investment Management LLC raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 420.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,001 shares of the industrial products company's stock after buying an additional 8,889 shares during the period. Intech Investment Management LLC's holdings in Franklin Electric were worth $1,153,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in FELE. OneAscent Financial Services LLC acquired a new position in shares of Franklin Electric during the 3rd quarter valued at $223,000. Caprock Group LLC bought a new stake in Franklin Electric in the third quarter valued at $208,000. Quest Partners LLC raised its holdings in shares of Franklin Electric by 691.6% during the third quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company's stock valued at $3,141,000 after purchasing an additional 26,184 shares during the period. Chesapeake Capital Corp IL boosted its position in shares of Franklin Electric by 79.8% during the 3rd quarter. Chesapeake Capital Corp IL now owns 4,610 shares of the industrial products company's stock worth $484,000 after purchasing an additional 2,046 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company's stock valued at $40,571,000 after buying an additional 63,436 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.
Insider Transactions at Franklin Electric
In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company's stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.72% of the company's stock.
Franklin Electric Stock Performance
FELE stock traded down $0.87 during midday trading on Wednesday, hitting $107.17. The company's stock had a trading volume of 136,755 shares, compared to its average volume of 176,638. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 2.41 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $104.26 and its 200 day moving average price is $100.81. Franklin Electric Co., Inc. has a 1 year low of $87.65 and a 1 year high of $111.94.
Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data 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). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million during the quarter, compared to analysts' expectations of $551.08 million. During the same quarter in the previous year, the company posted $1.23 EPS. Franklin Electric's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.
Franklin Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given 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 yield of 0.93%. Franklin Electric's dividend payout ratio is presently 25.32%.
Analyst Ratings Changes
Separately, Robert W. Baird dropped their price target on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th.
Get Our Latest Research Report on Franklin Electric
Franklin Electric Company Profile
(
Free Report)
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.
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