Victory Capital Management Inc. Purchases 227 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Victory Capital Management Inc. boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,300 shares of the industrial products company’s stock after purchasing an additional 227 shares during the period. Victory Capital Management Inc.’s holdings in Franklin Electric were worth $1,499,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Franklin Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Franklin Electric by 357.6% during the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock worth $889,000 after acquiring an additional 7,213 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares during the period. Edgestream Partners L.P. increased its stake in shares of Franklin Electric by 328.4% in the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock worth $6,206,000 after purchasing an additional 49,391 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Franklin Electric in the second quarter valued at about $1,753,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Stock Performance

FELE stock opened at $110.40 on Tuesday. Franklin Electric Co., Inc. has a 1-year low of $87.65 and a 1-year high of $111.94. The business has a 50-day moving average price of $103.86 and a 200 day moving average price of $100.71. The company has a market capitalization of $5.04 billion, a P/E ratio of 28.02, a PEG ratio of 2.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling

In other news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by company insiders.

About Franklin Electric

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.