Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Position Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,182,799 shares of the industrial products company’s stock after selling 2,895 shares during the period. King Luther Capital Management Corp’s holdings in Franklin Electric were worth $123,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Franklin Electric during the 1st quarter valued at about $968,000. Vanguard Group Inc. lifted its stake in shares of Franklin Electric by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock worth $507,489,000 after acquiring an additional 30,408 shares during the period. Van ECK Associates Corp lifted its stake in shares of Franklin Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after acquiring an additional 7,092 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Franklin Electric by 12.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock worth $5,197,000 after acquiring an additional 5,311 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Franklin Electric by 357.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock worth $889,000 after acquiring an additional 7,213 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

Insider Buying and Selling at Franklin Electric

In related news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares in the company, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Down 0.5 %

FELE stock opened at $104.83 on Thursday. Franklin Electric Co., Inc. has a 52-week low of $87.65 and a 52-week high of $110.97. The company’s 50 day simple moving average is $103.21 and its 200-day simple moving average is $100.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The firm has a market capitalization of $4.79 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.30 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.95%. Franklin Electric’s dividend payout ratio is presently 25.32%.

Franklin Electric Company 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.