First National Bank of Omaha trimmed its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,707 shares of the industrial products company’s stock after selling 2,887 shares during the quarter. First National Bank of Omaha’s holdings in Franklin Electric were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in shares of Franklin Electric by 1.1% in the third quarter. Wells Fargo & Company MN now owns 1,865,402 shares of the industrial products company’s stock worth $88,140,000 after purchasing an additional 20,674 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Franklin Electric by 23.0% in the third quarter. Victory Capital Management Inc. now owns 9,956 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 1,861 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Franklin Electric by 34.5% in the third quarter. First Trust Advisors LP now owns 244,727 shares of the industrial products company’s stock worth $11,563,000 after purchasing an additional 62,807 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Franklin Electric by 1.9% in the second quarter. Northern Trust Corp now owns 594,544 shares of the industrial products company’s stock worth $26,814,000 after purchasing an additional 11,332 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Franklin Electric by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 688,152 shares of the industrial products company’s stock worth $31,036,000 after purchasing an additional 20,518 shares during the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.
In related news, VP Steven William Aikman sold 1,500 shares of Franklin Electric stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $50.21, for a total value of $75,315.00. Following the completion of the transaction, the vice president now owns 16,515 shares in the company, valued at $829,218.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.52% of the company’s stock.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.80.
FELE opened at $44.93 on Wednesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.31 and a beta of 1.60. Franklin Electric Co. has a 12 month low of $38.45 and a 12 month high of $51.45. The company has a quick ratio of 1.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.13.
Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The company had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $342.18 million. Franklin Electric had a return on equity of 14.22% and a net margin of 7.07%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Analysts anticipate that Franklin Electric Co. will post 2.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.48 annualized dividend and a yield of 1.07%. Franklin Electric’s dividend payout ratio is currently 25.00%.
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Franklin Electric 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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