Monarch Capital Management Inc. continued to hold its stake in shares of Franklin Electric Co. (NASDAQ:FELE) during the second quarter, Holdings Channel reports. The fund owned 206,544 shares of the company’s stock at the end of the second quarter. Franklin Electric accounts for approximately 2.5% of Monarch Capital Management Inc.’s portfolio, making the stock its 12th largest position. Monarch Capital Management Inc.’s holdings in Franklin Electric were worth $6,826,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in FELE. Teachers Advisors Inc. raised its stake in shares of Franklin Electric by 3.9% in the first quarter. Teachers Advisors Inc. now owns 71,626 shares of the company’s stock valued at $2,304,000 after buying an additional 2,656 shares during the period. Prudential Financial Inc. raised its stake in shares of Franklin Electric by 7.0% in the first quarter. Prudential Financial Inc. now owns 96,532 shares of the company’s stock valued at $3,105,000 after buying an additional 6,300 shares during the period. BlackRock Inc. raised its stake in shares of Franklin Electric by 12.9% in the first quarter. BlackRock Inc. now owns 17,613 shares of the company’s stock valued at $568,000 after buying an additional 2,013 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Franklin Electric by 52.1% in the first quarter. JPMorgan Chase & Co. now owns 55,810 shares of the company’s stock valued at $1,796,000 after buying an additional 19,125 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Franklin Electric during the first quarter valued at about $762,000. 78.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Franklin Electric Co. (NASDAQ:FELE) traded down 1.04% on Monday, reaching $38.15. 67,645 shares of the company traded hands. Franklin Electric Co. has a one year low of $23.75 and a one year high of $41.13. The firm’s 50 day moving average is $38.92 and its 200 day moving average is $35.53. The company has a market capitalization of $1.76 billion, a P/E ratio of 24.77 and a beta of 1.61.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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 business earned $252.10 million during the quarter, compared to the consensus estimate of $255.60 million. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Franklin Electric Co. will post $1.66 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Monday, October 10th. Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.00.
In other news, VP Delancey W. Davis sold 1,422 shares of Franklin Electric stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $37.32, for a total transaction of $53,069.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Wathen sold 4,498 shares of Franklin Electric stock in a transaction on Monday, August 1st. The stock was sold at an average price of $38.28, for a total value of $172,183.44. The disclosure for this sale can be found here. Company 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.
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