Creative Planning Decreases Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Creative Planning cut its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,091 shares of the industrial products company’s stock after selling 1,088 shares during the period. Creative Planning’s holdings in Franklin Electric were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 valued at $507,489,000 after buying an additional 30,408 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 acquiring an additional 14,762 shares during the last quarter. Earnest Partners LLC raised its position 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 worth $150,560,000 after acquiring an additional 39,478 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Franklin Electric by 6.4% during the second 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 last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Franklin Electric by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 210,629 shares of the industrial products company’s stock valued at $20,288,000 after purchasing an additional 1,712 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday.

Franklin Electric Stock Performance

Shares of FELE stock opened at $95.71 on Friday. The stock’s 50-day moving average is $101.83 and its two-hundred day moving average is $100.16. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric Co., Inc. has a 1 year low of $84.32 and a 1 year high of $108.39. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter in the prior year, the business earned $1.23 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.04%. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Franklin Electric Company 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.