Franklin Electric Co., Inc. (FELE) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,855,608 shares of the industrial products company’s stock after buying an additional 247,087 shares during the period. Vanguard Group Inc. owned about 8.30% of Franklin Electric Co. worth $165,984,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in Franklin Electric Co. during the fourth quarter worth approximately $9,393,000. Schroder Investment Management Group increased its position in shares of Franklin Electric Co. by 34.6% in the first quarter. Schroder Investment Management Group now owns 790,110 shares of the industrial products company’s stock worth $33,343,000 after buying an additional 202,922 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of Franklin Electric Co. by 63.8% in the first quarter. Parametric Portfolio Associates LLC now owns 235,559 shares of the industrial products company’s stock worth $10,141,000 after buying an additional 91,790 shares during the period. State Street Corp increased its position in shares of Franklin Electric Co. by 7.8% in the fourth quarter. State Street Corp now owns 980,886 shares of the industrial products company’s stock worth $38,158,000 after buying an additional 71,027 shares during the period. Finally, Tributary Capital Management LLC increased its position in shares of Franklin Electric Co. by 24.4% in the first quarter. Tributary Capital Management LLC now owns 328,356 shares of the industrial products company’s stock worth $14,136,000 after buying an additional 64,335 shares during the period. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) traded up 1.66% on Monday, reaching $39.80. The company’s stock had a trading volume of 79,514 shares. Franklin Electric Co., Inc. has a 12-month low of $34.75 and a 12-month high of $46.50. The company’s 50-day moving average is $40.90 and its 200 day moving average is $40.70. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 21.63 and a beta of 1.60.

Franklin Electric Co. (NASDAQ:FELE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The business had revenue of $305.35 million for the quarter, compared to analysts’ expectations of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities analysts anticipate that Franklin Electric Co., Inc. will post $1.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio is currently 23.37%.

A number of research analysts have issued reports on FELE shares. BidaskClub upgraded Franklin Electric Co. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, April 25th. Finally, Boenning Scattergood reiterated an “outperform” rating and set a $52.00 price target (up previously from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th.

In other news, insider Delancey W. Davis sold 4,071 shares of Franklin Electric Co. stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $34.45, for a total transaction of $140,245.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the sale, the insider now directly owns 39,392 shares in the company, valued at approximately $1,772,640. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,331 shares of company stock worth $2,070,946. Corporate insiders own 2.54% of the company’s stock.

Franklin Electric Co. Company Profile

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.