Natixis Advisors LLC decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 82.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,563 shares of the industrial products company's stock after selling 68,509 shares during the period. Natixis Advisors LLC's holdings in Franklin Electric were worth $1,526,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. First Merchants Corp purchased a new position in Franklin Electric in the 2nd quarter worth approximately $19,054,000. F M Investments LLC purchased a new position in Franklin Electric in the second quarter valued at about $9,158,000. Assenagon Asset Management S.A. boosted its stake in shares of Franklin Electric by 116.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company's stock valued at $15,951,000 after buying an additional 89,128 shares during the last quarter. KBC Group NV grew its holdings in Franklin Electric by 19.6% during the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company's stock worth $40,571,000 after acquiring an additional 63,436 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake 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 in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.
Insider Buying and Selling at Franklin Electric
In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business's stock in a transaction 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 approximately $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by company insiders.
Franklin Electric Stock Performance
FELE stock traded down $2.10 during midday trading on Tuesday, reaching $108.30. The company had a trading volume of 62,666 shares, compared to its average volume of 176,392. The firm has a market capitalization of $4.95 billion, a PE ratio of 27.95, a P/E/G ratio of 2.39 and a beta of 0.96. The stock has a 50 day moving average price of $104.10 and a 200 day moving average price of $100.77. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.
Franklin Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.92%. Franklin Electric's dividend payout ratio is presently 25.32%.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird reduced their price objective 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.
Check Out Our Latest Research Report on Franklin Electric
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.
Recommended Stories
Before you consider Franklin Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Electric wasn't on the list.
While Franklin Electric currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
