KBC Group NV Boosts Holdings in Franklin Electric Co. (FELE)
KBC Group NV boosted its position in shares of Franklin Electric Co. (NASDAQ:FELE) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,215 shares of the industrial products company’s stock after buying an additional 1,143 shares during the period. KBC Group NV owned 0.19% of Franklin Electric worth $3,912,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Manchester Capital Management LLC increased its stake in Franklin Electric by 0.3% during the 2nd quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock worth $792,000 after buying an additional 50 shares in the last quarter. Arizona State Retirement System increased its stake in Franklin Electric by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock worth $833,000 after buying an additional 100 shares in the last quarter. Advisor Group Inc. increased its stake in Franklin Electric by 3.9% during the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after buying an additional 116 shares in the last quarter. Stifel Financial Corp increased its stake in Franklin Electric by 2.3% during the 2nd quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock worth $446,000 after buying an additional 238 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in Franklin Electric by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock worth $1,165,000 after buying an additional 276 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.
A number of equities research analysts have recently issued reports on FELE shares. BidaskClub lowered Franklin Electric from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Boenning Scattergood restated an “outperform” rating on shares of Franklin Electric in a research report on Tuesday, September 5th. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, September 27th. Robert W. Baird restated a “hold” rating and issued a $45.00 price target on shares of Franklin Electric in a research report on Wednesday, October 4th. Finally, Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Franklin Electric has a consensus rating of “Hold” and a consensus target price of $49.33.
In related news, VP Donald P. Kenney sold 4,754 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.54% of the company’s stock.
Shares of Franklin Electric Co. (NASDAQ FELE) opened at $46.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.35 and a quick ratio of 1.13. The stock has a market capitalization of $2,127.14, a P/E ratio of 25.08 and a beta of 1.62. Franklin Electric Co. has a 52-week low of $36.00 and a 52-week high of $47.20.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $311.11 million during the quarter, compared to analyst estimates of $317.54 million. Franklin Electric had a return on equity of 13.09% and a net margin of 8.13%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. sell-side analysts predict that Franklin Electric Co. will post 1.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were given a $0.1075 dividend. The ex-dividend date was Wednesday, November 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 0.93%. Franklin Electric’s dividend payout ratio (DPR) is presently 23.12%.
Franklin Electric Profile
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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