Sei Investments Co. raised its stake in shares of Franklin Electric (NASDAQ:FELE) by 99.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,005 shares of the industrial products company’s stock after acquiring an additional 3,984 shares during the period. Sei Investments Co.’s holdings in Franklin Electric were worth $326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Meadow Creek Investment Management LLC increased its position in shares of Franklin Electric by 29.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 1,204 shares during the last quarter. Citigroup Inc. increased its position in shares of Franklin Electric by 11.2% during the first quarter. Citigroup Inc. now owns 12,370 shares of the industrial products company’s stock valued at $504,000 after acquiring an additional 1,250 shares during the last quarter. Rhumbline Advisers increased its position in shares of Franklin Electric by 1.4% during the first quarter. Rhumbline Advisers now owns 108,734 shares of the industrial products company’s stock valued at $4,431,000 after acquiring an additional 1,495 shares during the last quarter. First National Bank of Omaha increased its position in shares of Franklin Electric by 1.9% during the first quarter. First National Bank of Omaha now owns 85,882 shares of the industrial products company’s stock valued at $3,500,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Franklin Electric by 3.5% during the first quarter. Great West Life Assurance Co. Can now owns 52,892 shares of the industrial products company’s stock valued at $2,156,000 after acquiring an additional 1,780 shares during the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Shares of Franklin Electric opened at $45.30 on Thursday, Marketbeat reports. The company has a quick ratio of 1.03, a current ratio of 2.22 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.11 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.59. Franklin Electric has a fifty-two week low of $37.60 and a fifty-two week high of $48.80.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The firm had revenue of $295.60 million during the quarter, compared to analysts’ expectations of $290.73 million. Franklin Electric had a net margin of 6.97% and a return on equity of 13.33%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. research analysts predict that Franklin Electric will post 2.3 EPS for the current year.

A number of equities research analysts have weighed in on the stock. DA Davidson assumed coverage on shares of Franklin Electric in a research report on Monday, June 11th. They set a “neutral” rating and a $50.00 price target for the company. Zacks Investment Research cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, May 30th. Finally, BidaskClub upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, May 23rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $48.80.

In related news, VP Steven William Aikman sold 3,000 shares of Franklin Electric stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $46.02, for a total value of $138,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Delancey W. Davis sold 1,117 shares of Franklin Electric stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $43.79, for a total transaction of $48,913.43. Following the completion of the transaction, the insider now owns 17,331 shares of the company’s stock, valued at approximately $758,924.49. The disclosure for this sale can be found here. Insiders sold 6,056 shares of company stock valued at $274,952 in the last 90 days. Company insiders own 2.54% 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. 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.

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

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