Universal Beteiligungs und Servicegesellschaft mbH Invests $843,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Franklin Electric Co., Inc. by purchasing 8,975 shares valued at approximately $843,000 during the 1st quarter.
• Franklin Electric reported $1.31 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $1.28, with total revenue reaching $587.43 million.
• The company announced a quarterly dividend of $0.265 per share to be paid on August 21st, representing an annualized dividend yield of 1.1%.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,975 shares of the industrial products company's stock, valued at approximately $843,000.

Other hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH raised its stake in Franklin Electric by 2.7% during the first quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company's stock valued at $78,295,000 after purchasing an additional 22,303 shares in the last quarter. Victory Capital Management Inc. raised its stake in Franklin Electric by 8.8% during the first quarter. Victory Capital Management Inc. now owns 15,464 shares of the industrial products company's stock valued at $1,452,000 after purchasing an additional 1,245 shares in the last quarter. Fortress Financial Solutions LLC raised its stake in Franklin Electric by 10.9% during the first quarter. Fortress Financial Solutions LLC now owns 4,436 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 435 shares in the last quarter. BHK Investment Advisors LLC raised its stake in Franklin Electric by 9.8% during the first quarter. BHK Investment Advisors LLC now owns 5,644 shares of the industrial products company's stock valued at $530,000 after purchasing an additional 505 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Franklin Electric in the first quarter valued at $695,000. Hedge funds and other institutional investors own 79.98% of the company's stock.

Analyst Upgrades and Downgrades

FELE has been the topic of several recent analyst reports. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday. Robert W. Baird upped their price target on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th.

Franklin Electric Stock Down 0.7%

Shares of FELE stock traded down $0.68 during mid-day trading on Wednesday, hitting $93.97. 75,536 shares of the stock traded hands, compared to its average volume of 269,585. The stock has a market cap of $4.18 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.89 and a beta of 1.08. The stock's fifty day moving average is $89.80 and its two-hundred day moving average is $92.92. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $587.43 million during the quarter, compared to analyst estimates of $566.61 million. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. Equities analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, August 7th. Franklin Electric's payout ratio is 27.39%.

Franklin Electric declared that its board has authorized a stock repurchase plan on Friday, June 13th that permits the company to repurchase 1,200,000 shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, Director David M. Wathen sold 25,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $85.25, for a total value of $2,131,250.00. Following the sale, the director directly owned 24,000 shares in the company, valued at approximately $2,046,000. The trade was a 51.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Wathen sold 24,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $86.10, for a total transaction of $2,066,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,402 shares of company stock worth $8,529,908. 2.72% of the stock is owned by 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.