USA Financial Formulas Has $84,000 Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

USA Financial Formulas boosted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 50.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 900 shares of the industrial products company’s stock after buying an additional 300 shares during the period. USA Financial Formulas’ holdings in Franklin Electric were worth $84,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Franklin Electric by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company’s stock worth $464,796,000 after buying an additional 45,174 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Franklin Electric by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock worth $79,098,000 after buying an additional 143,917 shares during the last quarter. Norges Bank acquired a new position in Franklin Electric during the fourth quarter worth $56,968,000. Northern Trust Corp raised its holdings in Franklin Electric by 11.0% during the fourth quarter. Northern Trust Corp now owns 513,896 shares of the industrial products company’s stock worth $50,079,000 after buying an additional 50,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Franklin Electric by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company’s stock worth $49,093,000 after buying an additional 10,580 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

FELE has been the subject of several recent analyst reports. Robert W. Baird reduced their target price on shares of Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th.

Franklin Electric Stock Performance

NASDAQ FELE opened at $86.90 on Thursday. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.11 and a beta of 1.08. The company has a fifty day moving average price of $87.24 and a 200-day moving average price of $95.86.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $455.25 million during the quarter, compared to the consensus estimate of $471.21 million. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.06 annualized dividend and a yield of 1.22%. Franklin Electric’s payout ratio is currently 27.75%.

Insider Activity at Franklin Electric

In related news, Director David M. Wathen sold 25,402 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $85.22, for a total transaction of $2,164,758.44. Following the completion of the transaction, the director now owns 49,000 shares in the company, valued at approximately $4,175,780. This represents a 34.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Wathen sold 24,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total transaction of $2,066,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,402 shares of company stock worth $8,529,908. 2.72% of the stock is owned by company insiders.

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.