Mackenzie Financial Corp Has $321,000 Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Mackenzie Financial Corp grew its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,318 shares of the industrial products company’s stock after acquiring an additional 449 shares during the period. Mackenzie Financial Corp’s holdings in Franklin Electric were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FELE. Vanguard Group Inc. increased its holdings in shares of Franklin Electric by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,656,427 shares of the industrial products company’s stock valued at $415,493,000 after purchasing an additional 17,092 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Franklin Electric by 0.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,961,273 shares of the industrial products company’s stock valued at $189,557,000 after buying an additional 5,915 shares during the period. Invesco Ltd. raised its position in shares of Franklin Electric by 6.2% during the third quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock worth $54,877,000 after acquiring an additional 36,114 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Franklin Electric by 0.7% during the third quarter. Northern Trust Corp now owns 512,762 shares of the industrial products company’s stock valued at $45,754,000 after acquiring an additional 3,433 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in Franklin Electric by 1.3% in the fourth quarter. Boston Trust Walden Corp now owns 505,303 shares of the industrial products company’s stock valued at $48,838,000 after acquiring an additional 6,662 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the sale, the chief executive officer now directly owns 154,993 shares in the company, valued at $15,493,100.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE opened at $102.77 on Friday. The stock has a market cap of $4.73 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $107.89. The stock’s 50-day moving average price is $102.35 and its two-hundred day moving average price is $95.66. The company has a current ratio of 2.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). The firm had revenue of $472.97 million for the quarter, compared to the consensus estimate of $490.47 million. Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, equities analysts predict that Franklin Electric Co., Inc. will post 4.32 earnings per share for the current year.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Wednesday, May 1st. Franklin Electric’s payout ratio is presently 24.33%.

Analysts Set New Price Targets

Several brokerages have weighed in on FELE. StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 14th. Northcoast Research raised shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Friday, February 23rd. Finally, Robert W. Baird raised their price objective on shares of Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Franklin Electric presently has an average rating of “Moderate Buy” and an average price target of $100.00.

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.