Balyasny Asset Management L.P. Acquires 3,235 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Balyasny Asset Management L.P. grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,272 shares of the industrial products company’s stock after acquiring an additional 3,235 shares during the quarter. Balyasny Asset Management L.P. owned 0.07% of Franklin Electric worth $3,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of FELE. Barclays PLC raised its stake in shares of Franklin Electric by 237.3% in the third quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock valued at $9,184,000 after purchasing an additional 61,640 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Franklin Electric by 9.9% in the third quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company’s stock valued at $1,076,000 after purchasing an additional 914 shares in the last quarter. ORG Partners LLC raised its stake in Franklin Electric by 150.2% during the fourth quarter. ORG Partners LLC now owns 833 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Franklin Electric by 19.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 451 shares in the last quarter. Finally, Trust Co. of Toledo NA OH raised its stake in Franklin Electric by 47.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 9,000 shares of the industrial products company’s stock worth $877,000 after acquiring an additional 2,900 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $86.93 on Monday. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.94. The firm has a market cap of $3.96 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The business has a fifty day moving average of $92.06 and a 200-day moving average of $98.48.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $455.25 million during the quarter, compared to the consensus estimate of $471.21 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Franklin Electric’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. On average, equities research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, May 8th. Franklin Electric’s dividend payout ratio (DPR) is currently 27.75%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. StockNews.com lowered Franklin Electric from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st.

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.