Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Natixis Advisors L.P.

Natixis Advisors L.P. lowered its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 21.7% during the fourth quarter, HoldingsChannel reports. The fund owned 63,061 shares of the industrial products company’s stock after selling 17,480 shares during the period. Natixis Advisors L.P.’s holdings in Franklin Electric were worth $6,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in Franklin Electric by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,427 shares of the industrial products company’s stock valued at $663,000 after purchasing an additional 306 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Franklin Electric by 7.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,359 shares of the industrial products company’s stock valued at $746,000 after buying an additional 581 shares during the last quarter. Strs Ohio grew its position in shares of Franklin Electric by 164.6% in the 3rd quarter. Strs Ohio now owns 12,700 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 7,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Franklin Electric by 3.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,435 shares of the industrial products company’s stock worth $2,091,000 after acquiring an additional 734 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Franklin Electric in the third quarter valued at $250,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $102.07 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.17 and a current ratio of 2.85. Franklin Electric Co., Inc. has a one year low of $82.61 and a one year high of $107.89. The company has a 50-day simple moving average of $102.29 and a 200-day simple moving average of $96.39. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.93 and a beta of 0.99.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The company had revenue of $460.90 million for the quarter, compared to analysts’ expectations of $477.64 million. During the same period in the prior year, the company earned $0.79 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Franklin Electric Co., Inc. will post 4.27 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.00 annualized dividend and a yield of 0.98%. Franklin Electric’s dividend payout ratio is currently 24.88%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FELE. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday. DA Davidson raised their price target on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Northcoast Research upgraded Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Friday, February 23rd. Finally, Robert W. Baird raised their target price on shares of Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.00.

Franklin Electric 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.