Great West Life Assurance Co. Can boosted its position in Franklin Electric Co. (NASDAQ:FELE) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,787 shares of the company’s stock after buying an additional 994 shares during the period. Great West Life Assurance Co. Can owned 0.11% of Franklin Electric worth $2,065,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new position in Franklin Electric during the second quarter worth approximately $11,009,000. Kleinwort Benson Investors Dublin Ltd bought a new position in Franklin Electric during the second quarter worth approximately $3,113,000. Ngam Advisors L.P. increased its position in Franklin Electric by 5.3% in the second quarter. Ngam Advisors L.P. now owns 166,486 shares of the company’s stock worth $5,503,000 after buying an additional 8,337 shares during the period. Morgan Dempsey Capital Management LLC bought a new position in Franklin Electric during the second quarter worth approximately $934,000. Finally, Louisiana State Employees Retirement System increased its position in Franklin Electric by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $562,000 after buying an additional 100 shares during the period. 79.03% of the stock is owned by institutional investors.
Franklin Electric Co. (NASDAQ:FELE) traded up 2.53% on Friday, reaching $40.50. The company had a trading volume of 97,534 shares. Franklin Electric Co. has a 12-month low of $23.75 and a 12-month high of $43.00. The stock’s 50-day moving average price is $38.26 and its 200-day moving average price is $36.78. The stock has a market capitalization of $1.88 billion, a P/E ratio of 25.17 and a beta of 1.48.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.01. The firm had revenue of $239.80 million for the quarter, compared to the consensus estimate of $244.09 million. Franklin Electric had a return on equity of 13.01% and a net margin of 8.31%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities research analysts anticipate that Franklin Electric Co. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. Franklin Electric’s payout ratio is 24.84%.
Separately, Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Franklin Electric has a consensus rating of “Hold” and a consensus price target of $36.00.
In other Franklin Electric news, insider Robert J. Stone sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $42.04, for a total value of $420,400.00. Following the completion of the transaction, the insider now owns 26,459 shares in the company, valued at approximately $1,112,336.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas J. Strupp sold 1,794 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $35.91, for a total value of $64,422.54. Following the completion of the transaction, the vice president now owns 20,473 shares of the company’s stock, valued at approximately $735,185.43. The disclosure for this sale can be found here. Insiders own 2.67% of the company’s stock.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.