Swiss National Bank Has $7.58 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Posted by on May 18th, 2023

Swiss National Bank lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,000 shares of the industrial products company’s stock after purchasing an additional 1,700 shares during the quarter. Swiss National Bank owned 0.21% of Franklin Electric worth $7,576,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Signaturefd LLC lifted its position in shares of Franklin Electric by 130.4% during the 3rd quarter. Signaturefd LLC now owns 394 shares of the industrial products company’s stock worth $32,000 after buying an additional 223 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Franklin Electric in the first quarter valued at about $38,000. Covestor Ltd increased its stake in shares of Franklin Electric by 3,382.6% in the first quarter. Covestor Ltd now owns 801 shares of the industrial products company’s stock valued at $67,000 after buying an additional 778 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Franklin Electric in the third quarter valued at about $110,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Franklin Electric by 74.5% in the third quarter. Quadrant Capital Group LLC now owns 1,440 shares of the industrial products company’s stock valued at $118,000 after buying an additional 615 shares during the period. 79.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FELE shares. Robert W. Baird increased their price target on Franklin Electric from $87.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, February 15th. Oppenheimer assumed coverage on Franklin Electric in a research note on Tuesday, April 18th. They set a “market perform” rating for the company. StockNews.com assumed coverage on Franklin Electric in a research note on Thursday. They set a “buy” rating for the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of Franklin Electric in a research note on Wednesday, May 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $90.00 target price (up previously from $85.00) on shares of Franklin Electric in a research note on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Franklin Electric presently has an average rating of “Hold” and a consensus target price of $88.33.

Insider Activity

In other news, VP Kenneth Keene sold 1,149 shares of the firm’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 transaction, the vice president now owns 4,272 shares in the company, valued at $412,589.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kenneth Keene sold 1,149 shares of the firm’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 transaction, the vice president now owns 4,272 shares in the company, valued at $412,589.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregg C. Sengstack sold 9,246 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $95.08, for a total value of $879,109.68. Following the completion of the transaction, the chief executive officer now owns 158,486 shares in the company, valued at approximately $15,068,848.88. The disclosure for this sale can be found here. Insiders have sold 24,637 shares of company stock worth $2,328,725 over the last 90 days. 2.84% of the stock is currently owned by corporate insiders.

Franklin Electric Trading Up 1.5 %

Shares of Franklin Electric stock opened at $92.31 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.75 and a current ratio of 1.99. Franklin Electric Co., Inc. has a 52 week low of $68.38 and a 52 week high of $100.00. The stock has a 50 day moving average price of $90.75 and a two-hundred day moving average price of $87.56. The stock has a market capitalization of $4.26 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.76 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Franklin Electric had a return on equity of 18.76% and a net margin of 9.38%. The firm had revenue of $484.60 million during the quarter, compared to analysts’ expectations of $476.26 million. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 4.35 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Thursday, May 4th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.97%. Franklin Electric’s dividend payout ratio is presently 21.79%.

Franklin Electric Company Profile

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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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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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