Handelsinvest Investeringsforvaltning Sells 1,554 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Handelsinvest Investeringsforvaltning trimmed its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 34.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,993 shares of the industrial products company’s stock after selling 1,554 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Franklin Electric were worth $320,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Franklin Electric in the fourth quarter valued at approximately $48,711,000. Running Oak Capital LLC lifted its holdings in Franklin Electric by 17.9% during the 4th quarter. Running Oak Capital LLC now owns 92,593 shares of the industrial products company’s stock worth $8,949,000 after purchasing an additional 14,074 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Franklin Electric by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,526 shares of the industrial products company’s stock worth $45,476,000 after purchasing an additional 8,226 shares during the last quarter. GHP Investment Advisors Inc. lifted its holdings in Franklin Electric by 37.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 26,778 shares of the industrial products company’s stock worth $2,588,000 after purchasing an additional 7,325 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Franklin Electric during the 4th quarter worth approximately $740,000. 79.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. DA Davidson lifted their price target on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $95.29 on Thursday. The stock has a market capitalization of $4.39 billion, a PE ratio of 23.70, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.85 and a quick ratio of 1.17. The business has a fifty day moving average price of $98.36 and a two-hundred day moving average price of $98.88. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $107.89.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The business had revenue of $460.90 million during the quarter, compared to the consensus estimate of $477.64 million. During the same quarter in the previous year, the business posted $0.79 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, equities analysts predict that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. Franklin Electric’s payout ratio is 24.88%.

Insider Buying and Selling

In related news, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $98.00, for a total transaction of $136,318.00. Following the sale, the insider now owns 18,103 shares in the company, valued at approximately $1,774,094. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.06, for a total value of $225,960.84. Following the sale, the insider now owns 8,014 shares in the company, valued at approximately $817,908.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Grandon sold 1,391 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the completion of the sale, the insider now owns 18,103 shares in the company, valued at approximately $1,774,094. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.