Mackenzie Financial Corp Cuts Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Mackenzie Financial Corp lessened its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 58.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,869 shares of the industrial products company's stock after selling 4,056 shares during the quarter. Mackenzie Financial Corp's holdings in Franklin Electric were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FELE. Public Employees Retirement System of Ohio acquired a new position in Franklin Electric in the fourth quarter valued at approximately $52,000. Vise Technologies Inc. lifted its stake in shares of Franklin Electric by 32.8% in the 4th quarter. Vise Technologies Inc. now owns 6,907 shares of the industrial products company's stock valued at $673,000 after purchasing an additional 1,704 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Franklin Electric by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 126,300 shares of the industrial products company's stock worth $12,308,000 after buying an additional 11,426 shares in the last quarter. Voloridge Investment Management LLC grew its position in Franklin Electric by 0.9% during the fourth quarter. Voloridge Investment Management LLC now owns 137,555 shares of the industrial products company's stock valued at $13,405,000 after buying an additional 1,194 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Franklin Electric during the fourth quarter valued at $355,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Price Performance

FELE traded up $0.85 on Friday, hitting $86.54. 220,602 shares of the company's stock were exchanged, compared to its average volume of 210,032. The firm has a 50-day moving average price of $87.69 and a 200-day moving average price of $96.40. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The business had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. During the same quarter in the previous year, the company posted $0.70 EPS. The firm's revenue was down 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a yield of 1.22%. Franklin Electric's payout ratio is 27.75%.

Insiders Place Their Bets

In other news, Director David M. Wathen sold 24,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total transaction of $2,066,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Wathen sold 25,402 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total value of $2,164,758.44. Following the completion of the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $4,175,780. This trade represents a 34.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,402 shares of company stock valued at $8,529,908. Insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FELE shares. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Robert W. Baird reduced their target price on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th.

About Franklin Electric

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.