US Bancorp DE Boosts Stake in Franklin Electric Co., Inc. (FELE)
US Bancorp DE increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,566 shares of the industrial products company’s stock after buying an additional 686 shares during the period. US Bancorp DE’s holdings in Franklin Electric Co. were worth $894,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in Franklin Electric Co. during the fourth quarter valued at about $1,494,000. Norges Bank acquired a new stake in Franklin Electric Co. during the fourth quarter valued at about $9,393,000. Teachers Advisors LLC raised its stake 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 raised its stake 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 raised its stake 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. 76.88% of the stock is currently owned by institutional investors and hedge funds.
Franklin Electric Co., Inc. (NASDAQ FELE) remained flat at $39.05 during mid-day trading on Friday. 33,663 shares of the company traded hands. The stock has a market cap of $1.82 billion, a PE ratio of 21.22 and a beta of 1.60. The firm has a 50-day moving average of $40.90 and a 200 day moving average of $40.70. Franklin Electric Co., Inc. has a one year low of $34.75 and a one year high of $46.50.
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 for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts expect that Franklin Electric Co., Inc. will post $1.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a $0.108 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.43 annualized dividend and a dividend yield of 1.11%. Franklin Electric Co.’s payout ratio is currently 23.37%.
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Several analysts have recently issued reports on FELE shares. Zacks Investment Research lowered shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub lowered shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price target (up previously from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th.
In other Franklin Electric Co. news, VP John J. Haines sold 4,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total value of $164,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 39,392 shares of the company’s stock, valued at $1,772,640. The disclosure for this sale can be found here. Insiders sold 47,331 shares of company stock valued at $2,070,946 over the last 90 days. 2.54% of the stock is currently owned by corporate insiders.
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.
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