Allspring Global Investments Holdings LLC Increases Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Allspring Global Investments Holdings LLC grew its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,030,238 shares of the industrial products company’s stock after purchasing an additional 40,248 shares during the period. Allspring Global Investments Holdings LLC owned about 4.41% of Franklin Electric worth $212,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FELE. Goldman Sachs Group Inc. raised its holdings in shares of Franklin Electric by 2.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 213,820 shares of the industrial products company’s stock valued at $20,666,000 after purchasing an additional 5,745 shares during the last quarter. Vanguard Group Inc. grew its position in Franklin Electric by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,720,914 shares of the industrial products company’s stock valued at $456,276,000 after buying an additional 64,487 shares during the period. GAMMA Investing LLC grew its position in Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Franklin Electric by 14.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 339,764 shares of the industrial products company’s stock valued at $36,290,000 after buying an additional 43,945 shares during the period. Finally, Dudley & Shanley Inc. grew its position in Franklin Electric by 1.1% during the first quarter. Dudley & Shanley Inc. now owns 190,230 shares of the industrial products company’s stock valued at $20,318,000 after buying an additional 2,125 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

FELE traded down $1.02 during trading on Friday, hitting $104.53. 165,588 shares of the company traded hands, compared to its average volume of 174,656. The firm has a market cap of $4.82 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The stock’s fifty day moving average is $101.56 and its 200 day moving average is $100.25. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. Franklin Electric Co., Inc. has a one year low of $82.61 and a one year high of $108.39.

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

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the transaction, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of the transaction, the insider now directly owns 108,489 shares in the company, valued at approximately $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregg C. Sengstack sold 5,396 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares of the company’s stock, valued at $10,460,637.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,486 shares of company stock worth $2,568,171 over the last quarter. 2.72% of the stock is currently owned by company insiders.

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.