Victory Capital Management Inc. Increases Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Victory Capital Management Inc. raised its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,300 shares of the industrial products company’s stock after acquiring an additional 227 shares during the period. Victory Capital Management Inc.’s holdings in Franklin Electric were worth $1,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the period. ORG Partners LLC purchased a new stake in shares of Franklin Electric in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of Franklin Electric by 130.6% in the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 410 shares during the last quarter. CWM LLC boosted its position in shares of Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares during the period. Finally, USA Financial Formulas acquired a new stake in Franklin Electric in the 3rd quarter valued at approximately $74,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Price Performance

Shares of FELE opened at $110.40 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $111.94. The company has a market cap of $5.04 billion, a P/E ratio of 28.02, a PEG ratio of 2.39 and a beta of 0.96. The firm’s 50 day moving average price is $103.86 and its 200 day moving average price is $100.71.

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

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.91%. Franklin Electric’s dividend payout ratio is currently 25.32%.

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.