Thrivent Financial for Lutherans Sells 2,054 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Thrivent Financial for Lutherans lowered its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,844 shares of the industrial products company’s stock after selling 2,054 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Franklin Electric were worth $3,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Franklin Electric during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC boosted its holdings in Franklin Electric by 130.6% in the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after buying an additional 410 shares during the period. CWM LLC grew its stake in Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Franklin Electric during the 3rd quarter valued at $74,000. 79.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $110.40 on Tuesday. The firm has a 50 day moving average of $103.86 and a 200-day moving average of $100.71. The firm has a market capitalization of $5.04 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. Franklin Electric Co., Inc. has a 12 month low of $87.65 and a 12 month high of $111.94. 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 (NASDAQ:FELE) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.23 earnings per share. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

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

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.