Earnest Partners LLC increased its stake in Franklin Electric Co. (NASDAQ:FELE) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,130,166 shares of the industrial products company’s stock after purchasing an additional 19,417 shares during the quarter. Earnest Partners LLC’s holdings in Franklin Electric were worth $101,183,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of Franklin Electric by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,026 shares of the industrial products company’s stock worth $768,000 after purchasing an additional 271 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Franklin Electric by 2.4% during the first quarter. Mason Street Advisors LLC now owns 12,335 shares of the industrial products company’s stock valued at $630,000 after buying an additional 286 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Franklin Electric by 1.6% during the second quarter. Russell Investments Group Ltd. now owns 24,800 shares of the industrial products company’s stock valued at $1,178,000 after acquiring an additional 390 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Franklin Electric by 0.8% during the second quarter. Arizona State Retirement System now owns 59,748 shares of the industrial products company’s stock valued at $2,838,000 after acquiring an additional 499 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its stake in shares of Franklin Electric by 6.2% during the first quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock valued at $508,000 after acquiring an additional 583 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.
FELE stock opened at $50.07 on Friday. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 4.35 and a beta of 1.31. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. Franklin Electric Co. has a 12 month low of $38.87 and a 12 month high of $55.59. The firm has a 50-day moving average of $45.83 and a two-hundred day moving average of $47.69.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). The firm had revenue of $355.30 million during the quarter, compared to analysts’ expectations of $358.31 million. Franklin Electric had a net margin of 7.36% and a return on equity of 13.17%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, equities analysts forecast that Franklin Electric Co. will post 2.21 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.145 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.16%. Franklin Electric’s payout ratio is 25.66%.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday.
In other Franklin Electric news, insider Jay J. Walsh sold 1,016 shares of Franklin Electric stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $46.11, for a total value of $46,847.76. Following the transaction, the insider now directly owns 16,415 shares in the company, valued at $756,895.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John J. Haines sold 18,600 shares of Franklin Electric stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $47.07, for a total transaction of $875,502.00. Following the completion of the sale, the vice president now directly owns 64,043 shares in the company, valued at approximately $3,014,504.01. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by company insiders.
Franklin Electric Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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