Louisiana State Employees Retirement System held its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,700 shares of the industrial products company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Franklin Electric Co. were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FELE. Victory Capital Management Inc. boosted its position in Franklin Electric Co. by 13.5% in the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after buying an additional 347 shares during the period. Invictus RG acquired a new position in Franklin Electric Co. during the first quarter worth approximately $300,000. Principal Financial Group Inc. boosted its position in Franklin Electric Co. by 3.8% in the first quarter. Principal Financial Group Inc. now owns 343,110 shares of the industrial products company’s stock worth $14,771,000 after buying an additional 12,604 shares during the period. Confluence Investment Management LLC boosted its position in Franklin Electric Co. by 25.8% in the second quarter. Confluence Investment Management LLC now owns 81,145 shares of the industrial products company’s stock worth $3,359,000 after buying an additional 16,628 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in Franklin Electric Co. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 35,960 shares of the industrial products company’s stock worth $1,548,000 after buying an additional 5,427 shares during the period. 76.88% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Co., Inc. (NASDAQ:FELE) traded down 0.76% during trading on Monday, hitting $39.35. The stock had a trading volume of 33,582 shares. The stock has a market capitalization of $1.83 billion, a P/E ratio of 21.39 and a beta of 1.60. Franklin Electric Co., Inc. has a 52 week low of $34.75 and a 52 week high of $46.50. The company has a 50-day moving average of $41.11 and a 200-day moving average of $40.72.

Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The company had revenue of $305.35 million during the quarter, compared to analyst estimates of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. On average, equities analysts expect that Franklin Electric Co., Inc. will post $1.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a yield of 1.09%. The ex-dividend date is Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio is 23.37%.

TRADEMARK VIOLATION WARNING: “Louisiana State Employees Retirement System Has $650,000 Stake in Franklin Electric Co., Inc. (FELE)” was posted by Daily Political and is owned by of Daily Political. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/08/07/louisiana-state-employees-retirement-system-has-650000-stake-in-franklin-electric-co-inc-fele.html.

A number of equities analysts have recently commented on FELE shares. Zacks Investment Research cut Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Friday, April 28th. BidaskClub cut Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Boenning Scattergood reissued an “outperform” rating and set a $52.00 price target (up previously from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th.

In related news, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the completion of the sale, the insider now owns 39,392 shares of the company’s stock, valued at $1,772,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Delancey W. Davis sold 4,071 shares of Franklin Electric Co. stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $34.45, for a total value of $140,245.95. The disclosure for this sale can be found here. Insiders have sold 47,331 shares of company stock valued at $2,070,946 in the last three months. 2.54% of the stock is owned by corporate insiders.

Franklin Electric Co. Company Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

Want to see what other hedge funds are holding FELE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Electric Co., Inc. (NASDAQ:FELE).

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

Receive News & Ratings for Franklin Electric Co. Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. Inc. and related companies with MarketBeat.com's FREE daily email newsletter.