Schroder Investment Management Group boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 831,352 shares of the industrial products company’s stock after acquiring an additional 41,242 shares during the period. Schroder Investment Management Group owned 1.79% of Franklin Electric Co. worth $33,794,000 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. Fifth Third Bancorp grew its stake in Franklin Electric Co. by 8.0% in the 1st quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 196 shares during the last quarter. Victory Capital Management Inc. grew its stake in Franklin Electric Co. by 13.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 347 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Franklin Electric Co. in the 1st quarter valued at about $171,000. Dubuque Bank & Trust Co. grew its stake in Franklin Electric Co. by 6.7% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 338 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Franklin Electric Co. in the 1st quarter valued at about $228,000. 77.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Franklin Electric Co., Inc. (FELE) opened at 38.85 on Monday. Franklin Electric Co., Inc. has a 52 week low of $34.75 and a 52 week high of $46.50. The company has a 50-day moving average of $39.38 and a 200-day moving average of $40.43. The firm has a market capitalization of $1.81 billion, a PE ratio of 21.11 and a beta of 1.63.
Franklin Electric Co. (NASDAQ:FELE) last released its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $305.35 million for the quarter, compared to analyst estimates of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. Franklin Electric Co.’s revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 earnings per share. On average, equities analysts forecast that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were paid a $0.108 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $0.43 dividend on an annualized basis and a yield of 1.11%. Franklin Electric Co.’s dividend payout ratio is currently 23.37%.
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FELE has been the topic of a number of research reports. BidaskClub raised shares of Franklin Electric Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of Franklin Electric Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price objective (up from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th.
In related news, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the transaction, the insider now owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.54% of the company’s stock.
About Franklin Electric Co.
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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