Yousif Capital Management LLC cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,190 shares of the industrial products company’s stock after selling 6,205 shares during the period. Yousif Capital Management LLC owned about 0.05% of Franklin Electric worth $2,009,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Global Investments increased its position in shares of Franklin Electric by 1.5% during the third quarter. Summit Global Investments now owns 8,935 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 135 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Franklin Electric by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 7,978 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 137 shares in the last quarter. Signaturefd LLC increased its position in shares of Franklin Electric by 130.4% during the third quarter. Signaturefd LLC now owns 394 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 223 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Franklin Electric by 9.8% during the third quarter. Rockefeller Capital Management L.P. now owns 2,783 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 249 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Franklin Electric by 1.2% during the third quarter. Advisors Asset Management Inc. now owns 23,041 shares of the industrial products company’s stock worth $1,883,000 after purchasing an additional 264 shares in the last quarter. 79.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FELE. DA Davidson lifted their target price on Franklin Electric from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. StockNews.com initiated coverage on Franklin Electric in a report on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Robert W. Baird raised their price target on Franklin Electric from $87.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Franklin Electric presently has a consensus rating of “Hold” and an average price target of $86.67.
Franklin Electric Stock Performance
Franklin Electric (NASDAQ:FELE – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The industrial products company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.09). Franklin Electric had a net margin of 9.17% and a return on equity of 18.68%. The business had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $483.50 million. During the same period in the prior year, the firm posted $0.72 EPS. Franklin Electric’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities research analysts expect that Franklin Electric Co., Inc. will post 4.2 earnings per share for the current year.
Franklin Electric Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Thursday, February 2nd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, February 1st. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.20. Franklin Electric’s payout ratio is currently 22.67%.
Insider Buying and Selling at Franklin Electric
In other Franklin Electric news, VP Kenneth Keene sold 1,149 shares of Franklin Electric stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $96.58, for a total value of $110,970.42. Following the sale, the vice president now owns 4,272 shares of the company’s stock, valued at approximately $412,589.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Donald P. Kenney sold 2,592 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $94.50, for a total transaction of $244,944.00. Following the sale, the vice president now owns 25,318 shares of the company’s stock, valued at approximately $2,392,551. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kenneth Keene sold 1,149 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $96.58, for a total value of $110,970.42. Following the sale, the vice president now directly owns 4,272 shares in the company, valued at approximately $412,589.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,387 shares of company stock valued at $1,364,860. 3.10% of the stock is owned by corporate insiders.
Franklin Electric Profile
Franklin Electric Co, Inc engages in the development, manufacture, and distribution of water and fuel pumping systems. It operates through the following business segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment designs, manufactures, and sells water pumping systems, submersible motors, pumps, electronic controls, and related parts and equipment.
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