Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Position Raised by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 328.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,431 shares of the industrial products company’s stock after purchasing an additional 49,391 shares during the period. Edgestream Partners L.P. owned approximately 0.14% of Franklin Electric worth $6,206,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FELE. Vanguard Group Inc. raised its holdings in Franklin Electric by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock worth $507,489,000 after buying an additional 30,408 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Franklin Electric by 0.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,989,990 shares of the industrial products company’s stock valued at $191,676,000 after acquiring an additional 14,762 shares during the period. King Luther Capital Management Corp lifted its position in shares of Franklin Electric by 1.3% in the 4th quarter. King Luther Capital Management Corp now owns 1,167,116 shares of the industrial products company’s stock valued at $112,802,000 after acquiring an additional 14,944 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Franklin Electric by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,466 shares of the industrial products company’s stock worth $103,656,000 after purchasing an additional 30,966 shares in the last quarter. Finally, Norges Bank acquired a new stake in Franklin Electric during the 4th quarter valued at $48,711,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $98.47 on Tuesday. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $108.39. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.54 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The business has a fifty day simple moving average of $100.12 and a 200-day simple moving average of $100.14.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The business had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 earnings per share. On average, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Franklin Electric’s payout ratio is 24.88%.

Insider Buying and Selling at Franklin Electric

In other news, insider Jay J. Walsh sold 14,090 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the transaction, the insider now directly owns 16,927 shares of the company’s stock, valued at $1,770,056.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gregg C. Sengstack sold 5,396 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the sale, the insider now owns 98,093 shares of the company’s stock, valued at approximately $10,460,637.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jay J. Walsh sold 14,090 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the completion of the transaction, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. Insiders sold 24,486 shares of company stock valued at $2,568,171 in the last quarter. Company insiders own 2.72% of the company’s stock.

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.