King Luther Capital Management Corp Cuts Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

King Luther Capital Management Corp reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,182,799 shares of the industrial products company’s stock after selling 2,895 shares during the period. King Luther Capital Management Corp owned approximately 2.59% of Franklin Electric worth $123,981,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FELE. Acadian Asset Management LLC purchased a new position in Franklin Electric in the first quarter valued at about $968,000. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 30,408 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Franklin Electric by 12.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock worth $5,197,000 after purchasing an additional 5,311 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Franklin Electric by 357.6% during the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock worth $889,000 after purchasing an additional 7,213 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is currently owned by insiders.

Franklin Electric Stock Down 0.5 %

Shares of NASDAQ FELE opened at $104.83 on Thursday. The firm has a market cap of $4.79 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.96. The firm’s 50 day moving average price is $103.21 and its 200 day moving average price is $100.58. Franklin Electric Co., Inc. has a 1 year low of $87.65 and a 1 year high of $110.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The business had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

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.