Franklin Electric Co. (FELE) Shares Bought by Capstone Asset Management Co.
Capstone Asset Management Co. boosted its position in Franklin Electric Co. (NASDAQ:FELE) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,845 shares of the company’s stock after buying an additional 150 shares during the period. Capstone Asset Management Co.’s holdings in Franklin Electric were worth $391,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in Franklin Electric by 2.2% in the first quarter. State Street Corp now owns 889,243 shares of the company’s stock valued at $28,601,000 after buying an additional 19,335 shares during the last quarter. Royce & Associates LP increased its stake in Franklin Electric by 4.4% in the first quarter. Royce & Associates LP now owns 1,363,428 shares of the company’s stock valued at $43,861,000 after buying an additional 57,328 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Franklin Electric during the first quarter valued at $762,000. JPMorgan Chase & Co. increased its stake in Franklin Electric by 52.1% in the first quarter. JPMorgan Chase & Co. now owns 55,810 shares of the company’s stock valued at $1,796,000 after buying an additional 19,125 shares during the last quarter. Finally, Impax Asset Management LTD increased its stake in Franklin Electric by 184.1% in the first quarter. Impax Asset Management LTD now owns 1,115,954 shares of the company’s stock valued at $35,896,000 after buying an additional 723,131 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.
Franklin Electric Co. (NASDAQ:FELE) traded down 0.43% during trading on Friday, hitting $36.89. The stock had a trading volume of 415,568 shares. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 23.95 and a beta of 1.67. The firm has a 50 day moving average of $38.39 and a 200-day moving average of $34.29. Franklin Electric Co. has a 12 month low of $23.75 and a 12 month high of $39.82.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Franklin Electric had a net margin of 8.07% and a return on equity of 13.27%. The firm earned $252.10 million during the quarter, compared to the consensus estimate of $255.60 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Franklin Electric Co. will post $1.66 earnings per share for the current year.
Several equities analysts recently issued reports on FELE shares. Zacks Investment Research cut Franklin Electric from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Seaport Global Securities cut Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Friday, June 10th. Finally, Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Franklin Electric presently has a consensus rating of “Hold” and a consensus target price of $35.00.
In related news, VP Donald P. Kenney sold 1,405 shares of Franklin Electric stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $37.76, for a total transaction of $53,052.80. Following the transaction, the vice president now directly owns 16,127 shares of the company’s stock, valued at $608,955.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas J. Strupp sold 5,082 shares of Franklin Electric stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $37.52, for a total transaction of $190,676.64. Following the transaction, the vice president now directly owns 29,023 shares in the company, valued at $1,088,942.96. The disclosure for this sale can be found here. Insiders own 2.67% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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