Spark Investment Management LLC acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, Holdings Channel reports. The fund acquired 19,100 shares of the industrial products company’s stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Franklin Electric Co. during the fourth quarter valued at $1,494,000. Norges Bank bought a new position in Franklin Electric Co. during the fourth quarter valued at $9,393,000. Teachers Advisors LLC boosted its position in Franklin Electric Co. by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 74,754 shares of the industrial products company’s stock valued at $2,908,000 after buying an additional 2,458 shares during the period. First National Bank of Omaha boosted its position in Franklin Electric Co. by 18.6% in the first quarter. First National Bank of Omaha now owns 68,151 shares of the industrial products company’s stock valued at $2,933,000 after buying an additional 10,698 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Franklin Electric Co. by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the industrial products company’s stock valued at $676,000 after buying an additional 300 shares during the period. Institutional investors own 76.88% of the company’s stock.

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) opened at 39.15 on Friday. The firm has a 50-day moving average price of $40.90 and a 200 day moving average price of $40.70. Franklin Electric Co., Inc. has a 52 week low of $34.75 and a 52 week high of $46.50. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.28 and a beta of 1.60.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a $0.108 dividend. This represents a $0.43 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Tuesday, August 1st. Franklin Electric Co.’s payout ratio is 23.37%.

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FELE has been the subject of several research reports. Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research note on Wednesday, July 26th. BidaskClub raised Franklin Electric Co. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $52.00 target price (up previously from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th.

In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction that occurred on 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 sale, the insider now owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John J. Haines sold 4,000 shares of Franklin Electric Co. stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.00, for a total value of $164,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,331 shares of company stock worth $2,070,946. Corporate 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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Institutional Ownership by Quarter for Franklin Electric Co. (NASDAQ:FELE)

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