ETRADE Capital Management LLC decreased its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,086 shares of the industrial products company’s stock after selling 767 shares during the period. ETRADE Capital Management LLC’s holdings in Franklin Electric were worth $852,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Franklin Electric by 3.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 32,614 shares of the industrial products company’s stock valued at $1,536,000 after purchasing an additional 1,098 shares during the last quarter. Swiss National Bank raised its position in Franklin Electric by 1.3% during the 1st quarter. Swiss National Bank now owns 76,400 shares of the industrial products company’s stock valued at $3,601,000 after purchasing an additional 1,000 shares during the last quarter. IndexIQ Advisors LLC purchased a new position in shares of Franklin Electric during the 1st quarter worth approximately $183,000. Private Capital Group LLC grew its holdings in shares of Franklin Electric by 57.6% during the 1st quarter. Private Capital Group LLC now owns 928 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Franklin Electric by 51.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,458 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 1,179 shares during the period. 79.14% of the stock is owned by institutional investors and hedge funds.
Franklin Electric stock opened at $48.20 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.84 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.23 billion, a P/E ratio of 22.95 and a beta of 1.10. The stock’s 50 day moving average is $48.19 and its 200 day moving average is $53.48. Franklin Electric Co. has a twelve month low of $41.25 and a twelve month high of $61.49.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $281.90 million. Franklin Electric had a return on equity of 12.73% and a net margin of 7.52%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. As a group, equities analysts expect that Franklin Electric Co. will post 1.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were paid a $0.155 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.62 annualized dividend and a dividend yield of 1.29%. Franklin Electric’s payout ratio is currently 29.95%.
In related news, insider Delancey W. Davis sold 3,469 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $55.00, for a total value of $190,795.00. Following the sale, the insider now owns 21,256 shares in the company, valued at approximately $1,169,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Delancey W. Davis sold 10,546 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $57.69, for a total value of $608,398.74. Following the completion of the sale, the insider now owns 21,023 shares in the company, valued at approximately $1,212,816.87. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.
A number of research analysts have weighed in on FELE shares. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. BidaskClub downgraded Franklin Electric from a “hold” rating to a “sell” rating in a report on Friday, May 15th. Finally, DA Davidson upgraded Franklin Electric from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $60.00 in a report on Monday, March 9th.
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.
See Also: How does a 12b-1 fee affect fund performance?
Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.