Charles Schwab Investment Management Inc. Cuts Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Charles Schwab Investment Management Inc. lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 493,195 shares of the industrial products company’s stock after selling 5,864 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.08% of Franklin Electric worth $51,697,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWM LLC lifted its position in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after buying an additional 98 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares in the last quarter. Marshall Wace LLP boosted its position in Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after purchasing an additional 109 shares during the period. Finally, Signaturefd LLC increased its holdings in Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Trading Up 1.1 %

NASDAQ FELE opened at $108.30 on Friday. The company’s fifty day simple moving average is $104.56 and its 200-day simple moving average is $100.94. The stock has a market cap of $4.95 billion, a P/E ratio of 27.42, a PEG ratio of 2.34 and a beta of 0.96. Franklin Electric Co., Inc. has a 52 week low of $87.95 and a 52 week high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price objective on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

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.