Envestnet Asset Management Inc. increased its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.2% during the first quarter, Holdings Channel reports. The firm owned 12,461 shares of the industrial products company’s stock after buying an additional 1,355 shares during the period. Envestnet Asset Management Inc.’s holdings in Franklin Electric Co. were worth $536,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mason Street Advisors LLC boosted its stake in shares of Franklin Electric Co. by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,002 shares of the industrial products company’s stock valued at $388,000 after buying an additional 604 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Franklin Electric Co. during the first quarter valued at about $171,000. Trexquant Investment LP bought a new stake in shares of Franklin Electric Co. during the first quarter valued at about $228,000. State of Tennessee Treasury Department boosted its stake in shares of Franklin Electric Co. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 35,960 shares of the industrial products company’s stock valued at $1,548,000 after buying an additional 5,427 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake 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 valued at $10,141,000 after buying an additional 91,790 shares during the period. 78.86% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Franklin Electric Co. (NASDAQ:FELE)

Shares of Franklin Electric Co., Inc. (FELE) opened at 40.40 on Friday. The firm’s 50-day moving average price is $38.97 and its 200 day moving average price is $40.53. Franklin Electric Co., Inc. has a 12 month low of $31.39 and a 12 month high of $45.15. The company has a market cap of $1.88 billion, a PE ratio of 23.79 and a beta of 1.62.

Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. Franklin Electric Co. had a return on equity of 13.04% and a net margin of 8.48%. The company had revenue of $220.30 million for the quarter, compared to analysts’ expectations of $226.74 million. During the same period in the prior year, the company posted $0.29 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Franklin Electric Co., Inc. will post $1.80 earnings per share for the current fiscal year.

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Several analysts have issued reports on the company. BidaskClub raised Franklin Electric Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research cut Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Friday, April 28th.

In other news, insider Thomas J. Strupp sold 4,876 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $39.26, for a total transaction of $191,431.76. Following the sale, the insider now owns 10,515 shares of the company’s stock, valued at $412,818.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Delancey W. Davis sold 4,071 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $34.45, for a total value of $140,245.95. The disclosure for this sale can be found here. Insiders have sold 12,947 shares of company stock worth $495,678 in the last ninety days. 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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