Vaughan Nelson Investment Management L.P. Has $39.55 Million Position in Franklin Electric Co. (FELE)

Vaughan Nelson Investment Management L.P. reduced its stake in Franklin Electric Co. (NASDAQ:FELE) by 8.2% in the 3rd quarter, Holdings Channel reports. The firm owned 837,063 shares of the industrial products company’s stock after selling 74,950 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Franklin Electric were worth $39,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in shares of Franklin Electric by 4.1% during the second quarter. Wells Fargo & Company MN now owns 1,844,728 shares of the industrial products company’s stock valued at $83,197,000 after acquiring an additional 71,919 shares during the period. First Trust Advisors LP lifted its stake in Franklin Electric by 4.2% in the second quarter. First Trust Advisors LP now owns 181,920 shares of the industrial products company’s stock valued at $8,205,000 after buying an additional 7,410 shares during the period. Victory Capital Management Inc. lifted its stake in Franklin Electric by 15.9% in the second quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock valued at $365,000 after buying an additional 1,108 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Franklin Electric in the second quarter valued at about $368,000. Finally, Rhumbline Advisers lifted its stake in Franklin Electric by 1.8% in the second quarter. Rhumbline Advisers now owns 110,730 shares of the industrial products company’s stock valued at $4,994,000 after buying an additional 1,996 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

In other Franklin Electric news, VP John J. Haines sold 2,000 shares of the stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $45.25, for a total value of $90,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven William Aikman sold 1,500 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $50.21, for a total value of $75,315.00. Following the completion of the sale, the vice president now owns 16,515 shares of the company’s stock, valued at $829,218.15. The disclosure for this sale can be found here. 2.52% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on FELE shares. BidaskClub raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. ValuEngine lowered Franklin Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.80.

Shares of Franklin Electric stock opened at $43.64 on Monday. Franklin Electric Co. has a 1 year low of $38.45 and a 1 year high of $51.45. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 2.29 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.13.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Franklin Electric had a return on equity of 14.22% and a net margin of 7.07%. The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $342.18 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts predict that Franklin Electric Co. will post 2.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were issued a $0.12 dividend. The ex-dividend date was Wednesday, October 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. Franklin Electric’s dividend payout ratio (DPR) is currently 25.00%.

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Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

Further Reading: Cost of Capital Explained

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

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