Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY reduced its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 45.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995 shares of the industrial products company’s stock after selling 1,633 shares during the period. Miller Howard Investments Inc. NY’s holdings in Franklin Electric were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. purchased a new stake in Franklin Electric during the 4th quarter valued at about $26,000. GAMMA Investing LLC grew its stake in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 147 shares during the last quarter. Principal Securities Inc. purchased a new stake in Franklin Electric during the 4th quarter valued at about $33,000. VisionPoint Advisory Group LLC purchased a new stake in Franklin Electric during the 3rd quarter valued at about $37,000. Finally, Signaturefd LLC grew its stake in Franklin Electric by 35.3% during the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 141 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the transaction, the insider now owns 8,014 shares of the company’s stock, valued at $817,908.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the transaction, the insider now owns 8,014 shares of the company’s stock, valued at $817,908.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Grandon sold 1,391 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the transaction, the insider now directly owns 18,103 shares of the company’s stock, valued at approximately $1,774,094. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Stock Performance

Shares of FELE stock opened at $97.71 on Tuesday. The company has a market capitalization of $4.50 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.90 and a beta of 0.97. The business’s 50 day moving average is $99.21 and its two-hundred day moving average is $98.83. The company has a current ratio of 2.85, a quick ratio of 1.17 and a debt-to-equity ratio of 0.07. Franklin Electric Co., Inc. has a 12-month low of $82.61 and a 12-month high of $107.89.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The business had revenue of $460.90 million for the quarter, compared to analysts’ expectations of $477.64 million. Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 EPS. Analysts expect that Franklin Electric Co., Inc. will post 4.27 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Franklin Electric’s dividend payout ratio is currently 24.88%.

Analyst Ratings Changes

A number of analysts have recently commented on FELE shares. StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. DA Davidson upped their target price on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st.

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.