PDT Partners LLC Buys 8,510 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

PDT Partners LLC lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 241.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,029 shares of the industrial products company’s stock after purchasing an additional 8,510 shares during the quarter. PDT Partners LLC’s holdings in Franklin Electric were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in Franklin Electric by 2.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after buying an additional 40,248 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Franklin Electric by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after acquiring an additional 39,478 shares in the last quarter. Boston Trust Walden Corp grew its position in Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 3,847 shares during the last quarter. KBC Group NV increased its holdings in Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock worth $40,571,000 after purchasing an additional 63,436 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in Franklin Electric by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock valued at $34,833,000 after purchasing an additional 21,890 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of Franklin Electric stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price target 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 Stock Performance

Shares of Franklin Electric stock opened at $108.30 on Monday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.37 and a beta of 0.96. Franklin Electric Co., Inc. has a twelve month low of $87.95 and a twelve month high of $111.94. The company’s fifty day moving average is $104.56 and its 200 day moving average is $100.94. 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 issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 3.81 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date 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%.

Franklin Electric 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.