Principal Financial Group Inc. Acquires 11,460 Shares of Franklin Electric Co. (FELE)

Principal Financial Group Inc. boosted its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,634 shares of the industrial products company’s stock after buying an additional 11,460 shares during the period. Principal Financial Group Inc. owned about 0.78% of Franklin Electric worth $15,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Franklin Electric by 166.4% during the fourth quarter. LS Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $138,000 after buying an additional 2,005 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Franklin Electric by 7.3% during the fourth quarter. Bank of Montreal Can now owns 3,322 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 226 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Franklin Electric by 24.9% during the fourth quarter. Hsbc Holdings PLC now owns 5,593 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 1,114 shares during the period. Magnus Financial Group LLC bought a new position in shares of Franklin Electric during the fourth quarter valued at $245,000. Finally, Advisor Group Inc. lifted its holdings in shares of Franklin Electric by 10.7% during the fourth quarter. Advisor Group Inc. now owns 6,034 shares of the industrial products company’s stock valued at $259,000 after acquiring an additional 585 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

FELE has been the subject of a number of analyst reports. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a report on Monday, February 4th. BidaskClub raised Franklin Electric from a “sell” rating to a “hold” rating in a report on Friday, December 21st. ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Finally, Boenning Scattergood reissued a “buy” rating and set a $54.00 price objective on shares of Franklin Electric in a report on Tuesday, February 19th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

In other news, Director Thomas R. Verhage sold 2,000 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $55.21, for a total transaction of $110,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Delancey W. Davis sold 2,705 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $53.75, for a total value of $145,393.75. Following the transaction, the insider now owns 21,349 shares of the company’s stock, valued at $1,147,508.75. The disclosure for this sale can be found here. Insiders have sold a total of 13,090 shares of company stock valued at $706,639 over the last 90 days. Corporate insiders own 2.88% of the company’s stock.

Shares of NASDAQ FELE opened at $51.82 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.27 and a quick ratio of 1.04. Franklin Electric Co. has a 52-week low of $38.87 and a 52-week high of $55.59. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 4.23 and a beta of 1.37.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, February 19th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. Franklin Electric had a return on equity of 14.72% and a net margin of 8.16%. The business had revenue of $316.66 million during the quarter, compared to analysts’ expectations of $309.68 million. During the same period in the previous year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, sell-side analysts predict that Franklin Electric Co. will post 2.42 earnings per share for the current year.

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Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

Further Reading: Net Margin

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

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