Dudley & Shanley Inc. Lowers Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Dudley & Shanley Inc. lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELEFree Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,105 shares of the industrial products company’s stock after selling 2,260 shares during the period. Franklin Electric comprises approximately 3.2% of Dudley & Shanley Inc.’s investment portfolio, making the stock its 18th largest holding. Dudley & Shanley Inc. owned 0.41% of Franklin Electric worth $18,180,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd boosted its position in Franklin Electric by 228.7% in the 2nd quarter. Covestor Ltd now owns 309 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 215 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Franklin Electric by 23.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,332 shares of the industrial products company’s stock worth $2,171,000 after buying an additional 4,582 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of Franklin Electric during the 3rd quarter worth approximately $767,000. Panagora Asset Management Inc. raised its stake in shares of Franklin Electric by 9.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 5,031 shares of the industrial products company’s stock worth $518,000 after buying an additional 420 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Franklin Electric by 12.5% during the 3rd quarter. Inspire Investing LLC now owns 3,521 shares of the industrial products company’s stock worth $314,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Franklin Electric Trading Up 2.2 %

Shares of NASDAQ FELE traded up $2.30 during mid-day trading on Thursday, reaching $105.39. 168,141 shares of the company’s stock were exchanged, compared to its average volume of 182,479. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 1.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.97. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $107.36. The company’s 50-day moving average is $98.56 and its 200-day moving average is $93.39.

Franklin Electric (NASDAQ:FELEGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $472.97 million for the quarter, compared to analysts’ expectations of $490.47 million. Franklin Electric had a return on equity of 16.67% and a net margin of 9.36%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. Analysts expect that Franklin Electric Co., Inc. will post 4.32 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, January 31st. Franklin Electric’s dividend payout ratio (DPR) is 24.33%.

Insider Activity at Franklin Electric

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the sale, the chief executive officer now owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird increased their price objective on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Friday, February 23rd. Finally, StockNews.com downgraded Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Check Out Our Latest Stock Analysis on FELE

Franklin Electric Company Profile

(Free Report)

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.

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

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