Schwab Charles Investment Management Inc. boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,586 shares of the industrial products company’s stock after buying an additional 20,311 shares during the period. Schwab Charles Investment Management Inc. owned 0.51% of Franklin Electric Co. worth $10,186,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FELE. BlackRock Inc. raised its stake in shares of Franklin Electric Co. by 26,341.4% in the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock valued at $224,097,000 after buying an additional 5,185,831 shares during the period. Vanguard Group Inc. increased its position in Franklin Electric Co. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,855,608 shares of the industrial products company’s stock valued at $165,984,000 after buying an additional 247,087 shares in the last quarter. Wells Fargo & Company MN increased its position in Franklin Electric Co. by 2.8% in the first quarter. Wells Fargo & Company MN now owns 1,623,924 shares of the industrial products company’s stock valued at $69,910,000 after buying an additional 43,919 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Franklin Electric Co. by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,575,820 shares of the industrial products company’s stock valued at $67,838,000 after buying an additional 18,455 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Franklin Electric Co. by 34.6% in the first quarter. Schroder Investment Management Group now owns 790,110 shares of the industrial products company’s stock valued at $33,343,000 after buying an additional 202,922 shares in the last quarter. Institutional investors own 77.67% of the company’s stock.

Franklin Electric Co., Inc. (FELE) traded down 0.64% during midday trading on Friday, hitting $38.55. 100,867 shares of the stock were exchanged. Franklin Electric Co., Inc. has a 12-month low of $34.75 and a 12-month high of $46.50. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 20.95 and a beta of 1.60. The firm has a 50 day moving average of $40.74 and a 200-day moving average of $40.65.

Franklin Electric Co. (NASDAQ:FELE) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The firm had revenue of $305.35 million during the quarter, compared to analyst estimates of $310.13 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, equities analysts expect that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were issued a dividend of $0.108 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.12%. Franklin Electric Co.’s dividend payout ratio (DPR) is presently 23.37%.

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FELE has been the topic of several research reports. Zacks Investment Research downgraded shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. BidaskClub downgraded shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and set a $52.00 target price (up from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th.

In other news, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the sale, the insider now directly owns 39,392 shares in the company, valued at $1,772,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Delancey W. Davis sold 4,071 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $34.45, for a total value of $140,245.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,331 shares of company stock valued at $2,070,946. Corporate insiders own 2.54% of the company’s stock.

Franklin Electric Co. Company Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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

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