Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. raised its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 6.4% during the second quarter, HoldingsChannel.com reports. The firm owned 361,654 shares of the industrial products company’s stock after buying an additional 21,890 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Franklin Electric were worth $34,833,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Franklin Electric during the fourth quarter worth about $48,711,000. Robeco Schweiz AG lifted its holdings in Franklin Electric by 28.3% during the 4th quarter. Robeco Schweiz AG now owns 474,747 shares of the industrial products company’s stock worth $45,884,000 after buying an additional 104,751 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Franklin Electric by 116.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock worth $15,951,000 after acquiring an additional 89,128 shares in the last quarter. UBS Group AG increased its holdings in shares of Franklin Electric by 474.8% in the 4th quarter. UBS Group AG now owns 105,177 shares of the industrial products company’s stock valued at $10,165,000 after acquiring an additional 86,880 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Franklin Electric by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,720,914 shares of the industrial products company’s stock valued at $456,276,000 after acquiring an additional 64,487 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Franklin Electric

In related news, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the sale, the insider now directly owns 108,489 shares in the company, valued at $11,268,752.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $98.00, for a total transaction of $136,318.00. Following the transaction, the insider now directly owns 18,103 shares of the company’s stock, valued at $1,774,094. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gregg C. Sengstack sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the sale, the insider now directly owns 108,489 shares of the company’s stock, valued at $11,268,752.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,877 shares of company stock worth $2,704,489. 2.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FELE has been the subject of a number of research reports. DA Davidson lifted their price objective on shares of Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com downgraded shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th.

Franklin Electric Stock Performance

Shares of Franklin Electric stock traded down $0.06 on Friday, reaching $99.56. 123,913 shares of the company were exchanged, compared to its average volume of 179,205. Franklin Electric Co., Inc. has a 1-year low of $82.61 and a 1-year high of $108.39. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 2.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The company’s 50-day moving average is $98.73 and its two-hundred day moving average is $99.98.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. As a group, research analysts expect that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is 24.88%.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.