The Vanguard Group Inc. decides to keep it stake in Franklin Electric Co. (FELE) to the level of $110,401,000

The Vanguard Group Inc. decides to keep it stake in Franklin Electric Co. (FELE) to the level of $110,401,000

Vanguard Group Inc. decreased its position in Franklin Electric Co. (NASDAQ:FELE) by 0.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,340,452 shares of the company’s stock after selling 28,847 shares during the period. Vanguard Group Inc. owned approximately 7.23% of Franklin Electric worth $110,401,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NEXT Financial Group Inc boosted its stake in Franklin Electric by 42.7% in the second quarter. NEXT Financial Group Inc now owns 5,177 shares of the company’s stock worth $171,000 after buying an additional 1,550 shares during the period. Teacher Retirement System of Texas boosted its stake in Franklin Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,503 shares of the company’s stock worth $182,000 after buying an additional 671 shares during the period. PNC Financial Services Group Inc. boosted its stake in Franklin Electric by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,394 shares of the company’s stock worth $210,000 after buying an additional 100 shares during the period. Janney Montgomery Scott LLC boosted its stake in Franklin Electric by 45.7% in the second quarter. Janney Montgomery Scott LLC now owns 9,570 shares of the company’s stock worth $316,000 after buying an additional 3,000 shares during the period. Finally, Geneva Advisors LLC boosted its stake in Franklin Electric by 3.7% in the second quarter. Geneva Advisors LLC now owns 10,369 shares of the company’s stock worth $343,000 after buying an additional 369 shares during the period. Institutional investors own 78.90% of the company’s stock.

Franklin Electric Co. (NASDAQ:FELE) opened at 36.35 on Friday. Franklin Electric Co. has a one year low of $23.75 and a one year high of $41.13. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 22.56 and a beta of 1.62. The firm has a 50-day moving average price of $38.54 and a 200-day moving average price of $35.94.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $239.80 million for the quarter, compared to analysts’ expectations of $244.09 million. Franklin Electric had a net margin of 8.31% and a return on equity of 13.01%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Analysts expect that Franklin Electric Co. will post $1.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.10%. Franklin Electric’s payout ratio is 24.84%.

FELE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Monday, October 10th. Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Monday, July 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.00.

In related news, Director David M. Wathen sold 4,498 shares of Franklin Electric stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $38.28, for a total transaction of $172,183.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas J. Strupp sold 3,750 shares of Franklin Electric stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $35.26, for a total value of $132,225.00. The disclosure for this sale can be found here. Corporate insiders own 2.67% of the company’s stock.

Franklin Electric Company Profile

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