Quantbot Technologies LP Raises Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Quantbot Technologies LP lifted its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 6,578.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,421 shares of the industrial products company’s stock after buying an additional 12,235 shares during the period. Quantbot Technologies LP’s holdings in Franklin Electric were worth $1,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Merchants Corp acquired a new stake in shares of Franklin Electric during the second quarter worth about $19,054,000. F M Investments LLC acquired a new position in Franklin Electric during the second quarter worth approximately $9,158,000. Assenagon Asset Management S.A. lifted its stake in Franklin Electric by 116.5% in the second quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock valued at $15,951,000 after buying an additional 89,128 shares during the last quarter. KBC Group NV boosted its holdings in shares of Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after acquiring an additional 63,436 shares during the period. Finally, Edgestream Partners L.P. grew its position in shares of Franklin Electric by 328.4% during the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock worth $6,206,000 after acquiring an additional 49,391 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Franklin Electric Stock Up 1.1 %

Franklin Electric stock opened at $108.30 on Friday. The stock has a 50 day moving average of $104.56 and a two-hundred day moving average of $100.94. Franklin Electric Co., Inc. has a twelve month low of $87.95 and a twelve month high of $111.94. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 2.34 and a beta of 0.96. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share 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 analyst estimates of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. As a group, research analysts expect that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. Franklin Electric’s payout ratio is currently 25.32%.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 approximately $905,187.04. This represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Franklin Electric Company 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.