Prudential Financial Inc. Sells 8,440 Shares of Franklin Electric Co. (FELE)

Prudential Financial Inc. decreased its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,675 shares of the industrial products company’s stock after selling 8,440 shares during the period. Prudential Financial Inc. owned about 0.14% of Franklin Electric worth $2,816,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. lifted its holdings in Franklin Electric by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,366 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 297 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Franklin Electric in the 4th quarter valued at about $633,000. Comerica Bank lifted its holdings in Franklin Electric by 0.6% in the 4th quarter. Comerica Bank now owns 38,409 shares of the industrial products company’s stock valued at $1,781,000 after acquiring an additional 233 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Franklin Electric by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 10,360 shares of the industrial products company’s stock valued at $444,000 after acquiring an additional 404 shares during the last quarter. Finally, LS Investment Advisors LLC raised its holdings in Franklin Electric by 166.4% during the 4th quarter. LS Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $138,000 after buying an additional 2,005 shares during the period. Hedge funds and other institutional investors own 76.69% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. BidaskClub upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Boenning Scattergood restated a “buy” rating and set a $54.00 price objective on shares of Franklin Electric in a report on Tuesday, February 19th. Finally, ValuEngine upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, February 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $52.00.

In other news, Director Thomas R. Verhage sold 2,000 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $55.21, for a total value of $110,420.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John J. Haines sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $55.18, for a total value of $220,720.00. Following the completion of the transaction, the vice president now owns 41,785 shares in the company, valued at approximately $2,305,696.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,090 shares of company stock worth $706,639. Corporate insiders own 2.52% of the company’s stock.

NASDAQ FELE opened at $50.97 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 2.27. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 2.52 and a beta of 1.38. Franklin Electric Co. has a 1 year low of $38.87 and a 1 year high of $55.59.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 19th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The firm had revenue of $316.66 million for the quarter, compared to the consensus estimate of $309.68 million. Franklin Electric had a return on equity of 14.72% and a net margin of 8.16%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. On average, sell-side analysts expect that Franklin Electric Co. will post 2.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, February 1st were issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from Franklin Electric’s previous quarterly dividend of $0.12. Franklin Electric’s payout ratio is presently 25.66%.

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About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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