PNC Financial Services Group Inc. boosted its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,394 shares of the company’s stock after buying an additional 100 shares during the period. PNC Financial Services Group Inc.’s holdings in Franklin Electric were worth $210,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its stake in Franklin Electric by 58.2% in the second quarter. First Trust Advisors LP now owns 28,845 shares of the company’s stock valued at $953,000 after buying an additional 10,615 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Franklin Electric during the second quarter valued at approximately $11,009,000. Kleinwort Benson Investors Dublin Ltd purchased a new stake in Franklin Electric during the second quarter valued at approximately $3,113,000. Ngam Advisors L.P. raised its stake in Franklin Electric by 5.3% in the second quarter. Ngam Advisors L.P. now owns 166,486 shares of the company’s stock valued at $5,503,000 after buying an additional 8,337 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in Franklin Electric during the second quarter valued at approximately $934,000. 78.91% of the stock is owned by institutional investors and hedge funds.
Franklin Electric Co. (NASDAQ:FELE) traded down 0.77% during trading on Tuesday, reaching $40.19. 67,381 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $38.68 and a 200-day moving average of $35.10. Franklin Electric Co. has a 52 week low of $23.75 and a 52 week high of $40.95. The stock has a market capitalization of $1.86 billion, a PE ratio of 26.10 and a beta of 1.61.
Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, July 26th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.02. The company earned $252.10 million during the quarter, compared to the consensus estimate of $255.60 million. Franklin Electric had a return on equity of 13.27% and a net margin of 8.07%. Franklin Electric’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. On average, equities research analysts anticipate that Franklin Electric Co. will post $1.66 EPS for the current year.
Several analysts have commented on the stock. Zacks Investment Research lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, July 11th. Finally, Seaport Global Securities lowered shares of Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $35.60.
In other Franklin Electric news, Director David M. Wathen sold 4,498 shares of Franklin Electric stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $38.28, for a total value of $172,183.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Stone sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the insider now directly owns 36,359 shares of the company’s stock, valued at $1,455,450.77. The disclosure for this sale can be found here. 2.67% of the stock is owned by company insiders.
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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