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

Tidal Investments LLC raised its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,518 shares of the industrial products company’s stock after purchasing an additional 1,502 shares during the quarter. Tidal Investments LLC’s holdings in Franklin Electric were worth $1,417,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in shares of Franklin Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after acquiring an additional 7,092 shares in the last quarter. Intech Investment Management LLC raised its holdings in Franklin Electric by 420.9% in the third quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock worth $1,153,000 after purchasing an additional 8,889 shares in the last quarter. Blue Trust Inc. lifted its position in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the period. PDT Partners LLC boosted its holdings in shares of Franklin Electric by 241.8% during the 3rd quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock valued at $1,261,000 after buying an additional 8,510 shares in the last quarter. Finally, Citigroup Inc. grew its position in shares of Franklin Electric by 73.1% in the 3rd quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock worth $6,176,000 after buying an additional 24,889 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Trading Down 4.5 %

NASDAQ FELE opened at $99.31 on Thursday. Franklin Electric Co., Inc. has a 12 month low of $91.45 and a 12 month high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average price is $105.12 and its 200-day moving average price is $101.60. The stock has a market cap of $4.54 billion, a P/E ratio of 25.14, a P/E/G ratio of 2.35 and a beta of 0.98.

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

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.01%. Franklin Electric’s dividend payout ratio is 25.32%.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction that occurred on 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 directly owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

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

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.