Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,720,914 shares of the industrial products company’s stock after purchasing an additional 64,487 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of Franklin Electric worth $456,276,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Franklin Electric in the fourth quarter worth about $26,000. Principal Securities Inc. purchased a new position in shares of Franklin Electric in the fourth quarter worth about $33,000. VisionPoint Advisory Group LLC purchased a new position in shares of Franklin Electric in the third quarter worth about $37,000. Signaturefd LLC lifted its stake in shares of Franklin Electric by 35.3% in the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after buying an additional 141 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Franklin Electric by 51.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock worth $103,000 after buying an additional 374 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE stock opened at $95.77 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.85 and a quick ratio of 1.17. The firm’s 50-day moving average is $99.03 and its two-hundred day moving average is $98.84. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $107.89. The company has a market capitalization of $4.41 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97.

Franklin Electric (NASDAQ:FELE) last released 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 company had revenue of $460.90 million during the quarter, compared to analysts’ expectations of $477.64 million. Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. Franklin Electric’s revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. Analysts predict that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, May 1st. Franklin Electric’s dividend payout ratio (DPR) is 24.88%.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Jonathan M. Grandon sold 1,391 shares of the business’s 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 sale, the insider now directly owns 18,103 shares of the company’s stock, valued at approximately $1,774,094. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric 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 completion of the transaction, the insider now owns 18,103 shares in the company, valued at $1,774,094. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Delancey W. Davis sold 2,214 shares of Franklin Electric stock in a transaction that occurred on Thursday, May 9th. The shares were 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 approximately $817,908.84. The disclosure for this sale can be found here. Insiders own 2.72% of the company’s stock.

Franklin Electric 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.