Franklin Electric Co., Inc. (FELE) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 79.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,611 shares of the industrial products company’s stock after buying an additional 3,361 shares during the period. State of Alaska Department of Revenue’s holdings in Franklin Electric Co. were worth $315,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock worth $114,000 after buying an additional 196 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Franklin Electric Co. by 1.0% in the first quarter. Arizona State Retirement System now owns 20,021 shares of the industrial products company’s stock worth $862,000 after buying an additional 200 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Franklin Electric Co. by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the industrial products company’s stock worth $676,000 after buying an additional 300 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Franklin Electric Co. by 13.5% in the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after buying an additional 347 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Franklin Electric Co. by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 11,307 shares of the industrial products company’s stock worth $487,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Franklin Electric Co., Inc. (FELE) opened at 39.55 on Thursday. The company has a 50-day moving average of $40.88 and a 200-day moving average of $40.67. Franklin Electric Co., Inc. has a 52 week low of $34.75 and a 52 week high of $46.50. The stock has a market cap of $1.84 billion, a P/E ratio of 21.49 and a beta of 1.60.

Franklin Electric Co. (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $305.35 million during the quarter, compared to analysts’ expectations of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. Franklin Electric Co.’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, analysts predict that Franklin Electric Co., Inc. will post $1.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio (DPR) is currently 23.37%.

COPYRIGHT VIOLATION WARNING: “Franklin Electric Co., Inc. (FELE) Shares Bought by State of Alaska Department of Revenue” was originally reported by BBNS and is the sole property of of BBNS. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://baseballnewssource.com/markets/franklin-electric-co-inc-fele-stake-increased-by-state-of-alaska-department-of-revenue-updated-updated/1313258.html.

Several research firms have recently commented on FELE. Zacks Investment Research raised shares of Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Tuesday, April 25th. Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price objective (up previously from $44.00) on shares of Franklin Electric Co. in a research note on Wednesday, July 26th. Finally, BidaskClub raised shares of Franklin Electric Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th.

In other news, insider Delancey W. Davis sold 4,071 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $34.45, for a total transaction of $140,245.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert J. Stone sold 39,260 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total value of $1,766,700.00. Following the transaction, the insider now owns 39,392 shares of the company’s stock, valued at $1,772,640. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,331 shares of company stock valued at $2,070,946. Company insiders own 2.54% of the company’s stock.

Franklin Electric Co. Company 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.

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

Receive News & Ratings for Franklin Electric Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Move 50 Games Over .500
Los Angeles Dodgers Move 50 Games Over .500
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Miami’s Giancarlo Stanton Sets Marlins Home Run Record
Bryce Harper Latest Star to Suffer Injury
Bryce Harper Latest Star to Suffer Injury
Chicago Cubs Must Survive Without Willson Contreras
Chicago Cubs Must Survive Without Willson Contreras
Cleveland Indians Acquire Jay Bruce From New York Mets
Cleveland Indians Acquire Jay Bruce From New York Mets
Injury to CC Sabathia Adds to Yankees’ Concerns
Injury to CC Sabathia Adds to Yankees’ Concerns


Leave a Reply

 
© 2006-2017 BBNS.