Quantinno Capital Management LP Buys 248 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Quantinno Capital Management LP raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 7.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,734 shares of the industrial products company’s stock after purchasing an additional 248 shares during the quarter. Quantinno Capital Management LP’s holdings in Franklin Electric were worth $391,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock worth $212,810,000 after buying 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 valued at $150,560,000 after acquiring an additional 39,478 shares during the period. Boston Trust Walden Corp raised its stake in shares of Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after acquiring an additional 3,847 shares during the last quarter. KBC Group NV boosted its holdings in shares of Franklin Electric by 19.6% during the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock worth $40,571,000 after purchasing an additional 63,436 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Franklin Electric by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 210,629 shares of the industrial products company’s stock worth $20,288,000 after purchasing an additional 1,712 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In related news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated 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 owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Franklin Electric Stock Down 0.8 %

Shares of Franklin Electric stock opened at $105.11 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12-month low of $91.45 and a 12-month high of $111.94. The company has a market cap of $4.80 billion, a P/E ratio of 26.61, a PEG ratio of 2.35 and a beta of 0.98. The company’s fifty day simple moving average is $105.22 and its two-hundred day simple moving average is $101.50.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results 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). The company had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. Franklin Electric’s dividend payout ratio is presently 25.32%.

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.