Legal & General Group Plc lifted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 80,854 shares of the industrial products company’s stock after purchasing an additional 8,847 shares during the quarter. Legal & General Group Plc owned about 0.17% of Franklin Electric Co. worth $3,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. grew its position in shares of Franklin Electric Co. by 26,341.4% in the 1st quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock valued at $224,097,000 after purchasing an additional 5,185,831 shares during the period. Vanguard Group Inc. grew its position in shares of Franklin Electric Co. by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 3,855,608 shares of the industrial products company’s stock valued at $165,984,000 after purchasing an additional 247,087 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Franklin Electric Co. by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,575,820 shares of the industrial products company’s stock valued at $67,838,000 after purchasing an additional 18,455 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of Franklin Electric Co. by 13.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,268,825 shares of the industrial products company’s stock valued at $52,529,000 after purchasing an additional 147,050 shares during the period. Finally, State Street Corp grew its position in shares of Franklin Electric Co. by 5.2% in the 1st quarter. State Street Corp now owns 1,031,688 shares of the industrial products company’s stock valued at $44,412,000 after purchasing an additional 50,802 shares during the period. Institutional investors and hedge funds own 77.00% of the company’s stock.

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Franklin Electric Co., Inc. (NASDAQ FELE) opened at 40.80 on Friday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 22.17 and a beta of 1.63. Franklin Electric Co., Inc. has a 12 month low of $34.75 and a 12 month high of $46.50. The company has a 50 day moving average price of $39.10 and a 200 day moving average price of $40.31.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a $0.108 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $0.43 dividend on an annualized basis and a yield of 1.06%. Franklin Electric Co.’s payout ratio is currently 23.37%.

In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the sale, the insider now directly owns 39,392 shares in the company, valued at $1,772,640. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.54% of the company’s stock.

FELE has been the subject of several research analyst reports. BidaskClub upgraded Franklin Electric Co. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research report on Wednesday, July 26th. Finally, Boenning Scattergood reiterated an “outperform” rating and issued a $52.00 price objective (up from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th.

About Franklin Electric Co.

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.

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

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