Mackenzie Financial Corp Has $280,000 Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Mackenzie Financial Corp decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 58.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,869 shares of the industrial products company's stock after selling 4,056 shares during the period. Mackenzie Financial Corp's holdings in Franklin Electric were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FELE. Blue Trust Inc. raised its stake in shares of Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after buying an additional 198 shares in the last quarter. Spire Wealth Management acquired a new position in Franklin Electric during the fourth quarter worth about $29,000. Longboard Asset Management LP bought a new stake in Franklin Electric in the fourth quarter worth about $200,000. GHP Investment Advisors Inc. raised its position in Franklin Electric by 5.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 62,165 shares of the industrial products company's stock worth $6,058,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Franklin Electric in the 4th quarter valued at about $535,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Price Performance

Shares of NASDAQ FELE traded up $0.85 during mid-day trading on Friday, reaching $86.54. The company had a trading volume of 220,602 shares, compared to its average volume of 210,394. The company has a 50-day moving average price of $87.52 and a two-hundred day moving average price of $96.13. The stock has a market cap of $3.95 billion, a PE 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 1-year low of $78.87 and a 1-year high of $111.94.

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

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued 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 dividend yield of 1.22%. Franklin Electric's dividend payout ratio is currently 27.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FELE. Robert W. Baird lowered their price objective on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

Insider Activity at Franklin Electric

In related news, Director David M. Wathen sold 24,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $86.10, for a total transaction of $2,066,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Wathen sold 25,402 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $85.22, for a total value of $2,164,758.44. Following the sale, the director now owns 49,000 shares of the company's stock, valued at $4,175,780. The trade was a 34.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,402 shares of company stock worth $8,529,908. 2.72% of the stock is owned by corporate insiders.

Franklin Electric Company 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.