Van Hulzen Asset Management LLC increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Get Rating) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,075 shares of the industrial products company’s stock after purchasing an additional 543 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Franklin Electric were worth $338,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of FELE. Allianz Asset Management GmbH lifted its holdings in shares of Franklin Electric by 11.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,022,495 shares of the industrial products company’s stock worth $96,687,000 after acquiring an additional 102,989 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Franklin Electric in the first quarter worth about $6,291,000. Eaton Vance Management lifted its holdings in shares of Franklin Electric by 90.1% in the first quarter. Eaton Vance Management now owns 132,929 shares of the industrial products company’s stock worth $11,039,000 after acquiring an additional 63,005 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Franklin Electric in the first quarter worth about $4,517,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Franklin Electric by 82.4% in the fourth quarter. JPMorgan Chase & Co. now owns 100,360 shares of the industrial products company’s stock worth $9,491,000 after acquiring an additional 45,335 shares during the last quarter. Institutional investors own 78.65% of the company’s stock.
Insider Transactions at Franklin Electric
In other news, insider Jonathan M. Grandon sold 1,464 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $91.36, for a total transaction of $133,751.04. Following the completion of the sale, the insider now owns 15,053 shares of the company’s stock, valued at approximately $1,375,242.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Paul Chhabra sold 12,236 shares of the stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $70.02, for a total value of $856,764.72. Following the transaction, the vice president now directly owns 10,911 shares in the company, valued at approximately $763,988.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jonathan M. Grandon sold 1,464 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $91.36, for a total value of $133,751.04. Following the completion of the transaction, the insider now owns 15,053 shares in the company, valued at $1,375,242.08. The disclosure for this sale can be found here. Insiders sold a total of 57,209 shares of company stock valued at $4,911,116 in the last quarter. 3.10% of the stock is currently owned by company insiders.
Franklin Electric Stock Performance
Franklin Electric (NASDAQ:FELE – Get Rating) last released its earnings results on Tuesday, July 26th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.20. The business had revenue of $551.10 million during the quarter, compared to the consensus estimate of $528.67 million. Franklin Electric had a net margin of 9.29% and a return on equity of 17.82%. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.13 earnings per share for the current year.
Franklin Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, August 3rd. Franklin Electric’s dividend payout ratio (DPR) is 20.97%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FELE. DA Davidson increased their target price on shares of Franklin Electric to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. StockNews.com raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, July 30th. Northcoast Research downgraded Franklin Electric from a “buy” rating to a “neutral” rating in a research note on Monday, August 15th. Finally, Robert W. Baird upped their price objective on Franklin Electric from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.75.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.
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