Lazard Asset Management LLC Has $97,000 Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Lazard Asset Management LLC raised its holdings in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 938.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,329 shares of the industrial products company’s stock after purchasing an additional 1,201 shares during the quarter. Lazard Asset Management LLC’s holdings in Franklin Electric were worth $97,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of Franklin Electric by 68.0% during the 1st quarter. Van ECK Associates Corp now owns 405 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 164 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Franklin Electric during the 1st quarter valued at $38,000. Quadrant Capital Group LLC lifted its holdings in Franklin Electric by 37.1% during the 1st quarter. Quadrant Capital Group LLC now owns 736 shares of the industrial products company’s stock worth $61,000 after buying an additional 199 shares during the period. Covestor Ltd lifted its holdings in Franklin Electric by 3,382.6% during the 1st quarter. Covestor Ltd now owns 801 shares of the industrial products company’s stock worth $67,000 after buying an additional 778 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in Franklin Electric during the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 78.65% of the company’s stock.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 1,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $84.91, for a total value of $84,910.00. Following the completion of the sale, the insider now directly owns 9,777 shares of the company’s stock, valued at approximately $830,165.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

FELE has been the topic of several recent research reports. DA Davidson lifted their target price on Franklin Electric to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. StockNews.com raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. Robert W. Baird lifted their target price on Franklin Electric from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Northcoast Research downgraded Franklin Electric from a “buy” rating to a “neutral” rating in a report on Monday, August 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.75.

Franklin Electric Stock Performance

FELE stock opened at $84.16 on Thursday. The stock has a 50-day moving average price of $83.56 and a 200-day moving average price of $81.15. Franklin Electric Co., Inc. has a 1-year low of $68.27 and a 1-year high of $96.56. The company has a current ratio of 1.92, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.90 billion, a PE ratio of 21.15 and a beta of 1.00.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, November 2nd. Franklin Electric’s dividend payout ratio (DPR) is presently 19.60%.

Franklin Electric Company Profile

(Get Rating)

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

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

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