Profund Advisors LLC lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,555 shares of the industrial products company’s stock after selling 953 shares during the period. Profund Advisors LLC’s holdings in Franklin Electric Co. were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Franklin Electric Co. by 26,341.4% during the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock worth $224,097,000 after buying an additional 5,185,831 shares during the last quarter. Vanguard Group Inc. boosted its stake in Franklin Electric Co. by 6.8% during the first quarter. Vanguard Group Inc. now owns 3,855,608 shares of the industrial products company’s stock worth $165,984,000 after buying an additional 247,087 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Franklin Electric Co. by 4.7% during the second quarter. Wells Fargo & Company MN now owns 1,700,634 shares of the industrial products company’s stock worth $70,406,000 after buying an additional 76,710 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Franklin Electric Co. by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,575,820 shares of the industrial products company’s stock worth $67,838,000 after buying an additional 18,455 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Franklin Electric Co. by 29.6% during the second quarter. Royce & Associates LP now owns 1,471,248 shares of the industrial products company’s stock worth $60,910,000 after buying an additional 335,900 shares during the last quarter. 77.00% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on FELE shares. Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock 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. Boenning Scattergood reissued an “outperform” rating and set a $52.00 price objective (up previously from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th. Finally, Robert W. Baird reissued a “hold” rating and set a $45.00 price objective on shares of Franklin Electric Co. in a research note on Wednesday, October 4th.

Franklin Electric Co., Inc. (NASDAQ FELE) opened at 44.70 on Wednesday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 24.29 and a beta of 1.63. Franklin Electric Co., Inc. has a 1-year low of $34.75 and a 1-year high of $46.95. The firm’s 50-day moving average price is $41.55 and its 200-day moving average price is $40.69.

Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $310.13 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue was up 21.1% on a year-over-year basis. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current year.

In other news, insider Robert J. Stone sold 39,260 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the sale, the insider now owns 39,392 shares in the company, valued at $1,772,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.54% of the stock is owned by company insiders.

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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.

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

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