Park Avenue Securities LLC Decreases Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Park Avenue Securities LLC reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,516 shares of the industrial products company’s stock after selling 433 shares during the quarter. Park Avenue Securities LLC’s holdings in Franklin Electric were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Mariner LLC boosted its holdings in shares of Franklin Electric by 5.9% in the third quarter. Mariner LLC now owns 5,307 shares of the industrial products company’s stock worth $474,000 after acquiring an additional 294 shares during the period. Northern Trust Corp boosted its holdings in shares of Franklin Electric by 0.7% in the third quarter. Northern Trust Corp now owns 512,762 shares of the industrial products company’s stock worth $45,754,000 after acquiring an additional 3,433 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Franklin Electric by 5.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,548 shares of the industrial products company’s stock worth $406,000 after acquiring an additional 222 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Franklin Electric by 230.0% in the third quarter. Qube Research & Technologies Ltd now owns 52,108 shares of the industrial products company’s stock worth $4,650,000 after acquiring an additional 36,320 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Franklin Electric by 337.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,777 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 2,913 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Franklin Electric

In other news, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $98.00, for a total value of $136,318.00. Following the transaction, the insider now owns 18,103 shares in the company, valued at $1,774,094. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Delancey W. Davis sold 2,214 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the transaction, the insider now owns 8,014 shares in the company, valued at approximately $817,908.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the transaction, the insider now owns 18,103 shares in the company, valued at approximately $1,774,094. The disclosure for this sale can be found here. Company insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

FELE has been the subject of several research analyst reports. DA Davidson lifted their price objective on Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th.

Franklin Electric Trading Down 2.4 %

NASDAQ FELE opened at $93.97 on Tuesday. The stock’s 50-day simple moving average is $98.68 and its two-hundred day simple moving average is $98.91. Franklin Electric Co., Inc. has a twelve month low of $82.61 and a twelve month high of $107.89. The company has a quick ratio of 1.17, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.88 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The firm had revenue of $460.90 million for the quarter, compared to analysts’ expectations of $477.64 million. During the same quarter in the previous year, the business earned $0.79 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Research analysts forecast that Franklin Electric Co., Inc. will post 4.27 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Franklin Electric’s payout ratio is 24.88%.

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.