First Trust Advisors LP Lowers Stock Position in Franklin Electric Co. (NASDAQ:FELE)

First Trust Advisors LP decreased its holdings in Franklin Electric Co. (NASDAQ:FELE) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,168 shares of the industrial products company’s stock after selling 8,352 shares during the quarter. First Trust Advisors LP owned 0.47% of Franklin Electric worth $11,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. bought a new position in Franklin Electric in the 1st quarter valued at about $64,000. Quantamental Technologies LLC acquired a new position in shares of Franklin Electric in the 1st quarter worth approximately $86,000. LS Investment Advisors LLC lifted its position in shares of Franklin Electric by 166.4% in the 4th quarter. LS Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 2,005 shares during the period. Bank of Montreal Can lifted its position in shares of Franklin Electric by 7.3% in the 4th quarter. Bank of Montreal Can now owns 3,322 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 226 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Franklin Electric by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 5,593 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 1,114 shares during the period. Institutional investors and hedge funds own 77.22% of the company’s stock.

In other news, VP Donald P. Kenney sold 1,313 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $46.21, for a total value of $60,673.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.88% of the company’s stock.

Shares of Franklin Electric stock traded up $0.89 during trading on Friday, reaching $47.50. 296,400 shares of the company traded hands, compared to its average volume of 152,453. The company has a quick ratio of 0.95, a current ratio of 2.13 and a debt-to-equity ratio of 0.13. Franklin Electric Co. has a 1-year low of $38.87 and a 1-year high of $55.59. The company has a 50 day moving average price of $45.48. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.93 and a beta of 1.34.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.19). Franklin Electric had a return on equity of 13.11% and a net margin of 7.25%. The business had revenue of $290.70 million for the quarter, compared to analyst estimates of $304.61 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Franklin Electric Co. will post 2.33 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Boenning Scattergood downgraded shares of Franklin Electric from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 23rd. Finally, BidaskClub downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th.

Franklin Electric Profile

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.

Further Reading: Hedge Funds

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

Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.