Schwab Charles Investment Management Inc. boosted its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,226 shares of the industrial products company’s stock after purchasing an additional 18,665 shares during the period. Schwab Charles Investment Management Inc. owned about 0.57% of Franklin Electric worth $11,851,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FELE. Public Employees Retirement System of Ohio lifted its position in Franklin Electric by 12.9% during the second 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 in the last quarter. Advisor Group Inc. lifted its position in Franklin Electric by 3.9% during the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares in the last quarter. SG Americas Securities LLC purchased a new position in Franklin Electric during the third quarter valued at $131,000. Victory Capital Management Inc. lifted its position in Franklin Electric by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 512 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Franklin Electric by 4.9% during the second quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.
In other news, VP Donald P. Kenney sold 4,754 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the transaction, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.54% of the stock is owned by insiders.
Franklin Electric Co. (FELE) opened at $45.35 on Thursday. Franklin Electric Co. has a 52-week low of $36.00 and a 52-week high of $47.20. The company has a market capitalization of $2,094.52, a PE ratio of 24.38 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.35 and a quick ratio of 1.13.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Franklin Electric had a return on equity of 13.09% and a net margin of 8.13%. The business had revenue of $311.11 million for the quarter, compared to the consensus estimate of $317.54 million. During the same period in the previous year, the business earned $0.48 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. sell-side analysts predict that Franklin Electric Co. will post 1.89 EPS for the current fiscal year.
Franklin Electric 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.
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