Profund Advisors LLC Cuts Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Profund Advisors LLC lowered its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,212 shares of the industrial products company’s stock after selling 214 shares during the period. Profund Advisors LLC’s holdings in Franklin Electric were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS Group AG increased its stake in Franklin Electric by 474.8% in the 4th quarter. UBS Group AG now owns 105,177 shares of the industrial products company’s stock worth $10,165,000 after purchasing an additional 86,880 shares during the period. Trexquant Investment LP bought a new position in shares of Franklin Electric in the fourth quarter worth approximately $278,000. US Bancorp DE increased its stake in shares of Franklin Electric by 20.1% in the fourth quarter. US Bancorp DE now owns 16,487 shares of the industrial products company’s stock worth $1,593,000 after buying an additional 2,763 shares during the period. TFO Wealth Partners LLC increased its stake in shares of Franklin Electric by 121,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock worth $117,000 after buying an additional 1,214 shares during the period. Finally, KBC Group NV raised its holdings in Franklin Electric by 5.7% during the 4th quarter. KBC Group NV now owns 325,019 shares of the industrial products company’s stock valued at $31,413,000 after buying an additional 17,559 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $105.02 on Monday. The company’s fifty day simple moving average is $100.60 and its two-hundred day simple moving average is $100.18. Franklin Electric Co., Inc. has a 12-month low of $82.61 and a 12-month high of $108.39. The firm has a market cap of $4.84 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 earnings per share. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of the sale, the insider now directly owns 108,489 shares of the company’s stock, valued at approximately $11,268,752.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares of the company’s stock, valued at approximately $10,460,637.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the sale, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. The disclosure for this sale can be found here. Insiders sold 24,486 shares of company stock valued at $2,568,171 over the last quarter. 2.72% of the stock is owned by company insiders.

Franklin Electric Company 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.