Park Avenue Securities LLC Sells 640 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Park Avenue Securities LLC reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 24.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,938 shares of the industrial products company’s stock after selling 640 shares during the quarter. Park Avenue Securities LLC’s holdings in Franklin Electric were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Franklin Electric by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock worth $507,489,000 after buying an additional 30,408 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Franklin Electric by 0.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,989,990 shares of the industrial products company’s stock valued at $191,676,000 after purchasing an additional 14,762 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Franklin Electric by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Franklin Electric by 6.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock worth $34,833,000 after purchasing an additional 21,890 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Franklin Electric by 1.0% in the first quarter. Principal Financial Group Inc. now owns 216,681 shares of the industrial products company’s stock worth $23,144,000 after purchasing an additional 2,147 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

NASDAQ FELE opened at $106.40 on Tuesday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.07 and a beta of 0.95. The company has a 50-day simple moving average of $100.94 and a two-hundred day simple moving average of $100.21. The company has a quick ratio of 1.14, a current ratio of 2.65 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 $108.39.

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

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, August 1st. Franklin Electric’s payout ratio is 24.88%.

Insider Activity

In related news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction dated 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 $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 108,489 shares of the company’s stock, valued at $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay J. Walsh sold 14,090 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the transaction, the insider now directly owns 16,927 shares in the company, valued at approximately $1,770,056.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,486 shares of company stock valued at $2,568,171. 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.