Dimensional Fund Advisors LP increased its stake in Franklin Electric Co. (NASDAQ:FELE) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,291 shares of the company’s stock after buying an additional 119,649 shares during the period. Dimensional Fund Advisors LP owned 3.32% of Franklin Electric worth $50,740,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FELE. Neuberger Berman Group LLC raised its stake in shares of Franklin Electric by 10.4% in the second quarter. Neuberger Berman Group LLC now owns 1,805,375 shares of the company’s stock valued at $59,668,000 after buying an additional 170,665 shares in the last quarter. Royce & Associates LP raised its position in shares of Franklin Electric by 4.4% in the first quarter. Royce & Associates LP now owns 1,363,428 shares of the company’s stock worth $43,861,000 after buying an additional 57,328 shares during the period. Impax Asset Management LTD raised its position in shares of Franklin Electric by 4.4% in the second quarter. Impax Asset Management LTD now owns 1,165,047 shares of the company’s stock worth $38,503,000 after buying an additional 49,093 shares during the period. State Street Corp raised its position in shares of Franklin Electric by 2.2% in the first quarter. State Street Corp now owns 889,243 shares of the company’s stock worth $28,601,000 after buying an additional 19,335 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Franklin Electric by 20.4% in the second quarter. Ameriprise Financial Inc. now owns 664,780 shares of the company’s stock worth $21,970,000 after buying an additional 112,455 shares during the period. 78.91% of the stock is currently owned by hedge funds and other institutional investors.
Franklin Electric Co. (NASDAQ:FELE) traded down 2.49% on Friday, reaching $39.93. The company had a trading volume of 163,497 shares. The company’s 50 day moving average price is $38.87 and its 200-day moving average price is $35.29. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 25.93 and a beta of 1.62. Franklin Electric Co. has a 12 month low of $23.75 and a 12 month high of $41.13.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Franklin Electric had a return on equity of 13.27% and a net margin of 8.07%. The company had revenue of $252.10 million for the quarter, compared to analyst estimates of $255.60 million. During the same quarter last year, the firm earned $0.35 EPS. Franklin Electric’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that Franklin Electric Co. will post $1.66 earnings per share for the current fiscal year.
FELE has been the topic of a number of research analyst reports. Zacks Investment Research raised Franklin Electric from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, June 29th. Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $35.60.
In related news, VP Delancey W. Davis sold 1,422 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $37.32, for a total value of $53,069.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Donald P. Kenney sold 1,405 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $37.76, for a total value of $53,052.80. Following the completion of the sale, the vice president now directly owns 16,127 shares in the company, valued at approximately $608,955.52. The disclosure for this sale can be found here. Insiders own 2.67% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
Receive News & Ratings for Franklin Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.