Barclays PLC boosted its holdings in Franklin Electric (NASDAQ:FELE) by 83.5% during the first quarter, Holdings Channel reports. The institutional investor owned 13,489 shares of the industrial products company’s stock after buying an additional 6,140 shares during the period. Barclays PLC’s holdings in Franklin Electric were worth $550,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Franklin Electric in the 4th quarter worth about $208,000. Pitcairn Co. purchased a new position in shares of Franklin Electric in the 1st quarter worth about $219,000. Meadow Creek Investment Management LLC raised its holdings in shares of Franklin Electric by 29.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock worth $243,000 after purchasing an additional 1,204 shares during the period. Advisor Group Inc. raised its holdings in shares of Franklin Electric by 51.7% in the 4th quarter. Advisor Group Inc. now owns 5,439 shares of the industrial products company’s stock worth $250,000 after purchasing an additional 1,854 shares during the period. Finally, Koch Industries Inc. purchased a new position in shares of Franklin Electric in the 4th quarter worth about $264,000. 76.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Friday, May 18th. BidaskClub downgraded Franklin Electric from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Finally, DA Davidson assumed coverage on Franklin Electric in a report on Monday, June 11th. They issued a “neutral” rating and a $50.00 price objective on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.80.
Franklin Electric stock opened at $45.10 on Friday. The stock has a market capitalization of $2.10 billion, a PE ratio of 23.49, a PEG ratio of 2.31 and a beta of 1.57. The company has a current ratio of 2.22, a quick ratio of 1.03 and a debt-to-equity ratio of 0.17. Franklin Electric has a 12 month low of $37.60 and a 12 month high of $48.80.
Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.07. The company had revenue of $295.60 million for the quarter, compared to the consensus estimate of $290.73 million. Franklin Electric had a return on equity of 13.33% and a net margin of 6.97%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. equities analysts forecast that Franklin Electric will post 2.3 earnings per share for the current fiscal year.
In related news, VP Donald P. Kenney sold 1,281 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $45.00, for a total transaction of $57,645.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Delancey W. Davis sold 1,117 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $43.79, for a total value of $48,913.43. Following the sale, the insider now owns 17,331 shares in the company, valued at $758,924.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,056 shares of company stock worth $274,952. Company insiders own 2.54% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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