Principal Financial Group Inc. boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 356,974 shares of the industrial products company’s stock after buying an additional 13,864 shares during the period. Principal Financial Group Inc. owned 0.77% of Franklin Electric Co. worth $14,779,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in 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 worth $224,097,000 after buying an additional 5,185,831 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 worth $165,984,000 after buying an additional 247,087 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 worth $67,838,000 after buying an additional 18,455 shares during the last quarter. Royce & Associates LP boosted its stake in Franklin Electric Co. by 29.6% in the 2nd quarter. Royce & Associates LP now owns 1,471,248 shares of the industrial products company’s stock worth $60,910,000 after buying an additional 335,900 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in 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 worth $52,529,000 after buying an additional 147,050 shares during the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Co., Inc. (FELE) opened at 42.60 on Tuesday. The stock has a 50 day moving average price of $39.18 and a 200 day moving average price of $40.28. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 23.15 and a beta of 1.63. Franklin Electric Co., Inc. has a 1-year low of $34.75 and a 1-year high of $46.50.

Franklin Electric Co. (NASDAQ:FELE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $310.13 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts predict that Franklin Electric Co., Inc. will post $1.92 EPS for the current year.

In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 39,392 shares in the company, valued at $1,772,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.54% of the company’s stock.

A number of analysts have issued reports on FELE shares. Zacks Investment Research lowered Franklin Electric Co. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price target (up from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th.

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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.

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

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