Nationwide Fund Advisors trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,262 shares of the industrial products company’s stock after selling 1,115 shares during the period. Nationwide Fund Advisors owned 0.07% of Franklin Electric Co. worth $1,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC grew its holdings in shares of Franklin Electric Co. by 0.3% during the 2nd quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock valued at $792,000 after acquiring an additional 50 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Franklin Electric Co. by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Franklin Electric Co. by 8.0% during the 1st quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 196 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Franklin Electric Co. by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock valued at $1,165,000 after acquiring an additional 276 shares in the last quarter. Finally, Dubuque Bank & Trust Co. grew its holdings in shares of Franklin Electric Co. by 6.7% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/21/franklin-electric-co-inc-fele-shares-sold-by-nationwide-fund-advisors.html.

Several research firms have recently commented on FELE. Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of Franklin Electric Co. in a report on Wednesday, October 4th. Zacks Investment Research cut shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Boenning Scattergood restated an “outperform” rating and set a $52.00 price target (up from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th. Finally, BidaskClub cut shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th.

Franklin Electric Co., Inc. (FELE) opened at 45.50 on Friday. The stock has a market capitalization of $2.12 billion, a PE ratio of 24.73 and a beta of 1.63. The stock’s 50 day moving average is $43.19 and its 200 day moving average is $40.92. Franklin Electric Co., Inc. has a 12-month low of $34.75 and a 12-month high of $46.95.

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

In related news, insider Robert J. Stone sold 39,260 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the transaction, the insider now owns 39,392 shares of the company’s stock, valued at $1,772,640. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.54% of the stock is currently owned by company insiders.

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)

Receive News & Stock Ratings for Franklin Electric Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. Inc. and related stocks with our FREE daily email newsletter.