BlackRock Institutional Trust Company N.A. increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.6% during the third quarter, Holdings Channel reports. The firm owned 1,019,622 shares of the company’s stock after buying an additional 15,741 shares during the period. BlackRock Institutional Trust Company N.A. owned approximately 2.20% of Franklin Electric Co. worth $41,509,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of FELE. BlackRock Fund Advisors increased its position in Franklin Electric Co. by 7.8% in the third quarter. BlackRock Fund Advisors now owns 2,862,259 shares of the company’s stock valued at $116,523,000 after buying an additional 207,571 shares during the period. Neuberger Berman Group LLC boosted its stake in Franklin Electric Co. by 10.4% in the second quarter. Neuberger Berman Group LLC now owns 1,805,375 shares of the company’s stock valued at $59,668,000 after buying an additional 170,665 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Franklin Electric Co. by 6.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,688,600 shares of the company’s stock valued at $55,808,000 after buying an additional 95,675 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Franklin Electric Co. by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,535,291 shares of the company’s stock valued at $50,740,000 after buying an additional 119,649 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Franklin Electric Co. by 0.8% in the third quarter. Wells Fargo & Company MN now owns 1,515,524 shares of the company’s stock valued at $61,698,000 after buying an additional 11,555 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Franklin Electric Co., Inc. (NASDAQ:FELE) traded up 0.12% during trading on Friday, reaching $41.25. The company’s stock had a trading volume of 34,883 shares. The firm has a market capitalization of $1.91 billion, a P/E ratio of 25.64 and a beta of 1.50. Franklin Electric Co., Inc. has a one year low of $25.62 and a one year high of $44.55. The stock has a 50-day moving average of $39.99 and a 200 day moving average of $38.87.
Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $239.80 million for the quarter, compared to analysts’ expectations of $244.09 million. Franklin Electric Co. had a net margin of 8.31% and a return on equity of 13.01%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, equities research analysts predict that Franklin Electric Co., Inc. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 16th. Shareholders of record on Thursday, February 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, January 31st. This represents a $0.40 annualized dividend and a yield of 0.97%. Franklin Electric Co.’s payout ratio is presently 24.84%.
Separately, Zacks Investment Research cut Franklin Electric Co. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.00.
In other Franklin Electric Co. news, VP Steven William Aikman sold 5,700 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $41.63, for a total transaction of $237,291.00. Following the sale, the vice president now owns 19,613 shares in the company, valued at approximately $816,489.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert J. Stone sold 10,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $42.04, for a total value of $420,400.00. Following the sale, the insider now owns 26,459 shares in the company, valued at approximately $1,112,336.36. The disclosure for this sale can be found here. 2.67% of the stock is currently owned by insiders.
Franklin Electric Co. Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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