Quantitative Systematic Strategies LLC Reduces Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Quantitative Systematic Strategies LLC lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 73.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,214 shares of the industrial products company’s stock after selling 11,493 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Franklin Electric were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FELE. Banque Cantonale Vaudoise purchased a new stake in shares of Franklin Electric in the second quarter worth $29,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Franklin Electric in the first quarter worth $30,000. Quantbot Technologies LP raised its position in shares of Franklin Electric by 15.7% in the first quarter. Quantbot Technologies LP now owns 1,718 shares of the industrial products company’s stock worth $135,000 after buying an additional 233 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Franklin Electric by 22.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,125 shares of the industrial products company’s stock worth $168,000 after buying an additional 395 shares in the last quarter. Finally, Veritable L.P. purchased a new stake in shares of Franklin Electric in the first quarter worth $204,000. Hedge funds and other institutional investors own 76.90% of the company’s stock.

FELE opened at $80.93 on Thursday. The stock has a market cap of $3.76 billion, a PE ratio of 28.80 and a beta of 0.98. The company has a quick ratio of 0.88, a current ratio of 1.79 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 52 week low of $55.99 and a 52 week high of $87.70. The business’s fifty day simple moving average is $82.45 and its 200 day simple moving average is $81.59.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Monday, July 26th. The industrial products company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The business had revenue of $437.28 million for the quarter, compared to analysts’ expectations of $386.23 million. Franklin Electric had a return on equity of 15.49% and a net margin of 9.16%. The firm’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 3.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Stockholders of record on Thursday, August 5th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.86%. Franklin Electric’s dividend payout ratio (DPR) is currently 32.11%.

In other Franklin Electric news, CFO John J. Haines sold 3,304 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $83.04, for a total value of $274,364.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John J. Haines sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $82.32, for a total transaction of $246,960.00. Following the completion of the sale, the chief financial officer now owns 54,179 shares of the company’s stock, valued at $4,460,015.28. The disclosure for this sale can be found here. Insiders have sold 10,686 shares of company stock worth $881,383 over the last ninety days. Insiders own 2.90% of the company’s stock.

Separately, Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday, August 30th.

Franklin Electric Company Profile

Franklin Electric Co, Inc engages in the development, manufacture, and distribution of water and fuel pumping systems. It operates through the following business segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment designs, manufactures, and sells water pumping systems, submersible motors, pumps, electronic controls, and related parts and equipment.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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