Thrivent Financial for Lutherans Has $3.17 Million Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Thrivent Financial for Lutherans trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,898 shares of the industrial products company’s stock after selling 1,517 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Franklin Electric worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of FELE. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 147 shares during the period. ORG Partners LLC acquired a new stake in Franklin Electric during the second quarter valued at $36,000. TFO Wealth Partners LLC grew its stake in Franklin Electric by 121,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 1,214 shares in the last quarter. Intech Investment Management LLC purchased a new position in Franklin Electric in the second quarter valued at about $203,000. Finally, Heritage Family Offices LLP acquired a new position in Franklin Electric in the 2nd quarter worth about $217,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the sale, the insider now owns 98,093 shares of the company’s stock, valued at $10,460,637.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Gregg C. Sengstack sold 5,396 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now directly owns 98,093 shares of the company’s stock, valued at approximately $10,460,637.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregg C. Sengstack sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $103.87, for a total value of $519,350.00. Following the sale, the insider now directly owns 108,489 shares of the company’s stock, valued at approximately $11,268,752.43. The disclosure for this sale can be found here. Insiders have sold 24,486 shares of company stock valued at $2,568,171 over the last three months. 2.72% of the stock is currently owned by insiders.

Franklin Electric Stock Down 0.4 %

FELE opened at $105.02 on Monday. The company has a market capitalization of $4.84 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. The business has a 50-day moving average of $100.60 and a 200-day moving average of $100.18. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $108.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business had revenue of $543.30 million during the quarter, compared to analyst estimates of $570.80 million. During the same quarter last year, the firm earned $1.27 earnings per share. Franklin Electric’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, August 1st. Franklin Electric’s payout ratio is 24.88%.

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.