Great West Life Assurance Co. Can Boosts Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Great West Life Assurance Co. Can raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) by 24.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,602 shares of the industrial products company’s stock after buying an additional 9,471 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Franklin Electric were worth $3,970,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FELE. JPMorgan Chase & Co. grew its stake in shares of Franklin Electric by 7.3% during the first quarter. JPMorgan Chase & Co. now owns 107,714 shares of the industrial products company’s stock worth $8,945,000 after acquiring an additional 7,354 shares during the last quarter. Raymond James & Associates grew its stake in shares of Franklin Electric by 9.6% during the first quarter. Raymond James & Associates now owns 4,455 shares of the industrial products company’s stock worth $370,000 after acquiring an additional 390 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Franklin Electric by 5.5% during the first quarter. American Century Companies Inc. now owns 5,458 shares of the industrial products company’s stock worth $453,000 after acquiring an additional 285 shares during the last quarter. Citigroup Inc. grew its stake in shares of Franklin Electric by 7.3% during the first quarter. Citigroup Inc. now owns 44,785 shares of the industrial products company’s stock worth $3,718,000 after acquiring an additional 3,046 shares during the last quarter. Finally, Natixis Advisors L.P. grew its stake in shares of Franklin Electric by 6.4% during the first quarter. Natixis Advisors L.P. now owns 11,711 shares of the industrial products company’s stock worth $972,000 after acquiring an additional 705 shares during the last quarter. Hedge funds and other institutional investors own 79.38% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $85.09 on Monday. The business’s 50 day moving average price is $82.04 and its 200 day moving average price is $84.00. The firm has a market cap of $3.94 billion, a P/E ratio of 21.38 and a beta of 0.98. Franklin Electric Co., Inc. has a 52 week low of $68.27 and a 52 week high of $96.19. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 0.09.

Franklin Electric (NASDAQ:FELEGet Rating) last issued its earnings results on Tuesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Franklin Electric had a net margin of 9.48% and a return on equity of 18.71%. The firm had revenue of $551.67 million during the quarter, compared to analysts’ expectations of $559.00 million. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Franklin Electric currently has an average rating of “Moderate Buy” and an average price target of $85.75.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 9,777 shares of the company’s stock, valued at $830,165.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

About Franklin Electric

(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.

See Also

Want to see what other hedge funds are holding FELE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating).

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

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