Covestor Ltd Buys 103 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Covestor Ltd increased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.6% during the 3rd quarter, Holdings Channel reports. The firm owned 765 shares of the industrial products company’s stock after acquiring an additional 103 shares during the quarter. Covestor Ltd’s holdings in Franklin Electric were worth $80,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FELE. Janney Montgomery Scott LLC lifted its holdings in shares of Franklin Electric by 25.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,035 shares of the industrial products company’s stock worth $431,000 after buying an additional 807 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Franklin Electric by 30.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 17,202 shares of the industrial products company’s stock worth $1,837,000 after acquiring an additional 4,010 shares during the period. Jupiter Asset Management Ltd. bought a new position in Franklin Electric during the 1st quarter worth about $293,000. Vanguard Group Inc. increased its position in Franklin Electric by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after purchasing an additional 30,408 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Franklin Electric in the 1st quarter valued at about $968,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

Franklin Electric Stock Performance

FELE stock opened at $109.16 on Thursday. The firm has a 50-day simple moving average of $102.19 and a two-hundred day simple moving average of $100.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. Franklin Electric Co., Inc. has a one year low of $87.65 and a one year high of $110.97. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.38 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. Franklin Electric’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now owns 9,032 shares in the company, valued at $905,187.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by company insiders.

About Franklin Electric

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.