Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,500 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Franklin Electric worth $3,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC increased its position in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Franklin Electric by 15.6% in the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 103 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the period. Marshall Wace LLP increased its holdings in shares of Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after buying an additional 109 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

FELE opened at $108.30 on Friday. Franklin Electric Co., Inc. has a 52-week low of $87.95 and a 52-week high of $111.94. The company has a 50 day moving average of $104.56 and a two-hundred day moving average of $100.94. The company has a market cap of $4.95 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.34 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period last year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.92%. Franklin Electric’s dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Insider Buying and Selling

In related news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 14.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Company Profile

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