Allspring Global Investments Holdings LLC Purchases 40,248 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Allspring Global Investments Holdings LLC increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,030,238 shares of the industrial products company's stock after acquiring an additional 40,248 shares during the period. Allspring Global Investments Holdings LLC owned approximately 4.41% of Franklin Electric worth $212,810,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Franklin Electric during the first quarter valued at approximately $968,000. Vanguard Group Inc. boosted its holdings in Franklin Electric by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company's stock worth $507,489,000 after purchasing an additional 30,408 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in 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 purchasing an additional 5,311 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 7,213 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in Franklin Electric by 328.4% in the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company's stock worth $6,206,000 after purchasing an additional 49,391 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of FELE traded down $1.02 during midday trading on Friday, hitting $104.53. 165,588 shares of the stock traded hands, compared to its average volume of 174,656. Franklin Electric Co., Inc. has a 1-year low of $82.61 and a 1-year high of $108.39. The firm has a market capitalization of $4.82 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The business's 50 day moving average price is $101.56 and its two-hundred day moving average price is $100.22.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The firm had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. During the same period last year, the firm posted $1.27 EPS. The business's revenue was down 4.6% compared to the same quarter last year. Equities research analysts predict that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, August 1st. Franklin Electric's dividend payout ratio (DPR) is 24.88%.

Insider Buying and Selling

In related news, insider Jay J. Walsh sold 14,090 shares of the company's stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the completion of the sale, the insider now owns 16,927 shares of the company's stock, valued at $1,770,056.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total transaction of $575,429.44. Following the sale, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay J. Walsh sold 14,090 shares of the business's stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the sale, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,486 shares of company stock valued at $2,568,171 over the last 90 days. 2.72% of the stock is currently owned by company insiders.

About Franklin Electric

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.