Nuveen Asset Management LLC Boosts Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Nuveen Asset Management LLC boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,213 shares of the industrial products company's stock after purchasing an additional 51,137 shares during the period. Nuveen Asset Management LLC owned about 0.94% of Franklin Electric worth $41,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc acquired a new position in Franklin Electric in the 4th quarter valued at approximately $241,000. Franklin Resources Inc. boosted its stake in Franklin Electric by 9.9% during the third quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company's stock worth $1,076,000 after acquiring an additional 914 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after acquiring an additional 10,580 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Franklin Electric by 5.0% during 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, Running Oak Capital LLC raised its holdings in Franklin Electric by 5.6% during the fourth quarter. Running Oak Capital LLC now owns 132,264 shares of the industrial products company's stock worth $12,889,000 after buying an additional 7,053 shares during the last quarter. Institutional investors own 79.98% of the company's stock.

Analyst Upgrades and Downgrades

FELE has been the topic of several research reports. 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 report on Wednesday, April 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th.

Insider Buying and Selling

In other news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at $794,281.14. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.72% of the company's stock.

Franklin Electric Stock Down 1.9%

Shares of Franklin Electric stock traded down $1.63 during trading on Friday, hitting $84.72. 181,834 shares of the stock traded hands, compared to its average volume of 207,606. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.86 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. The stock's fifty day simple moving average is $89.64 and its 200 day simple moving average is $97.60. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The business 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 business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. On average, equities analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, May 8th. Franklin Electric's dividend payout ratio is presently 27.75%.

Franklin Electric 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.