Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Acquired by Fmr LLC

Fmr LLC boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 49.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,588 shares of the industrial products company’s stock after purchasing an additional 2,508 shares during the quarter. Fmr LLC’s holdings in Franklin Electric were worth $795,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Franklin Electric by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after buying an additional 40,248 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Franklin Electric by 2.6% during the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock worth $150,560,000 after purchasing an additional 39,478 shares during the last quarter. Boston Trust Walden Corp increased its position 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 worth $69,082,000 after purchasing an additional 3,847 shares in the last quarter. KBC Group NV lifted its holdings 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 purchasing an additional 63,436 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Franklin Electric by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 210,629 shares of the industrial products company’s stock worth $20,288,000 after buying an additional 1,712 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Stock Performance

Shares of FELE stock opened at $103.99 on Wednesday. The stock’s 50-day moving average price is $105.23 and its 200 day moving average price is $101.59. 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 has a market capitalization of $4.75 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Franklin Electric Co., Inc. has a 52-week low of $91.45 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results 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 return on equity of 15.03% and a net margin of 9.22%. The company had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter last year, the company earned $1.23 EPS. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.96%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insider Activity at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.