Franklin Electric Co. (FELE) Position Raised by BlackRock Inc.
BlackRock Inc. boosted its position in Franklin Electric Co. (NASDAQ:FELE) by 1.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,311,651 shares of the industrial products company’s stock after acquiring an additional 68,462 shares during the period. BlackRock Inc. owned approximately 0.11% of Franklin Electric worth $243,805,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Franklin Electric by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares during the last quarter. KBC Group NV raised its holdings in Franklin Electric by 1.3% in the 3rd quarter. KBC Group NV now owns 87,215 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 1,143 shares during the period. Aperio Group LLC raised its holdings in Franklin Electric by 7.3% in the 4th quarter. Aperio Group LLC now owns 23,038 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 1,559 shares during the period. Rhumbline Advisers raised its holdings in Franklin Electric by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 95,936 shares of the industrial products company’s stock valued at $4,303,000 after acquiring an additional 1,680 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Franklin Electric by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 47,873 shares of the industrial products company’s stock valued at $2,147,000 after acquiring an additional 1,790 shares during the period. Institutional investors and hedge funds own 77.87% of the company’s stock.
FELE has been the topic of several research analyst reports. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, February 21st. Boenning Scattergood reissued a “buy” rating and issued a $54.00 price target on shares of Franklin Electric in a report on Tuesday, February 20th. Seaport Global Securities reissued a “hold” rating and issued a $41.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. Robert W. Baird reissued a “hold” rating and issued a $47.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. Finally, Gabelli reissued a “hold” rating on shares of Franklin Electric in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Franklin Electric presently has a consensus rating of “Hold” and an average price target of $46.75.
Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). Franklin Electric had a return on equity of 12.97% and a net margin of 6.95%. The business had revenue of $288.20 million for the quarter, compared to the consensus estimate of $312.73 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. equities research analysts anticipate that Franklin Electric Co. will post 2.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st were issued a dividend of $0.108 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.43 annualized dividend and a dividend yield of 1.01%. Franklin Electric’s dividend payout ratio is presently 25.90%.
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About Franklin Electric
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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