MQS Management LLC purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,159 shares of the industrial products company's stock, valued at approximately $646,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Franklin Electric in the first quarter valued at about $968,000. Vanguard Group Inc. grew its position in shares of Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company's stock worth $507,489,000 after buying an additional 30,408 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Franklin Electric by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company's stock worth $5,197,000 after buying an additional 5,311 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Franklin Electric by 357.6% in the second quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company's stock worth $889,000 after buying an additional 7,213 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Franklin Electric by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company's stock valued at $2,532,000 after acquiring an additional 7,092 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
Franklin Electric Stock Performance
Shares of FELE stock traded up $0.35 on Wednesday, hitting $109.16. 152,376 shares of the stock traded hands, compared to its average volume of 178,055. The company's fifty day moving average is $102.19 and its 200 day moving average is $100.31. Franklin Electric Co., Inc. has a 1-year low of $87.65 and a 1-year high of $110.97. The company has a market capitalization of $4.99 billion, a PE ratio of 27.64, a PEG ratio of 2.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same period last year, the company posted $1.23 earnings per share. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.
Franklin Electric Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, November 7th. Franklin Electric's dividend payout ratio (DPR) is presently 25.32%.
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.
View Our Latest Report on FELE
Insider Transactions at Franklin Electric
In related news, insider Gregg C. Sengstack sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now owns 9,032 shares in the company, valued at $905,187.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.72% of the company's stock.
About Franklin Electric
(
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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