Janus Henderson Group PLC Has $7.98 Million Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Janus Henderson Group PLC grew its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 2.3% in the third quarter, HoldingsChannel.com reports. The fund owned 76,131 shares of the industrial products company’s stock after acquiring an additional 1,746 shares during the quarter. Janus Henderson Group PLC’s holdings in Franklin Electric were worth $7,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FELE. First Merchants Corp acquired a new stake in Franklin Electric during the second quarter worth about $19,054,000. F M Investments LLC bought a new stake in shares of Franklin Electric during the 2nd quarter worth approximately $9,158,000. Assenagon Asset Management S.A. boosted its position in shares of Franklin Electric by 116.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock worth $15,951,000 after acquiring an additional 89,128 shares in the last quarter. KBC Group NV increased its stake in Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after acquiring an additional 63,436 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in Franklin Electric by 328.4% during the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock valued at $6,206,000 after purchasing an additional 49,391 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Franklin Electric Trading Down 0.4 %

FELE opened at $106.57 on Monday. The company’s 50 day moving average is $104.93 and its 200-day moving average is $101.21. The company has a market cap of $4.87 billion, a P/E ratio of 26.98, a PEG ratio of 2.36 and a beta of 0.98. Franklin Electric Co., Inc. has a 1-year low of $90.79 and a 1-year high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last posted its 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 company had revenue of $531.40 million for the quarter, compared to the consensus estimate of $551.08 million. During the same period in the previous year, the firm posted $1.23 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is currently 25.32%.

Insider Activity

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 14.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

About Franklin Electric

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.