Laurion Capital Management LP Invests $589,000 in Franklin Electric Co. (FELE)
Laurion Capital Management LP acquired a new stake in Franklin Electric Co. (NASDAQ:FELE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,521 shares of the industrial products company’s stock, valued at approximately $589,000.
Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Franklin Electric during the first quarter valued at $64,000. Quantamental Technologies LLC purchased a new stake in shares of Franklin Electric during the first quarter valued at $86,000. LS Investment Advisors LLC lifted its holdings in shares of 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 valued at $138,000 after purchasing an additional 2,005 shares during 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 purchasing an additional 226 shares during the last quarter. Finally, 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 purchasing an additional 1,114 shares during the last quarter. Institutional investors and hedge funds own 76.33% of the company’s stock.
Several brokerages have recently commented on FELE. Zacks Investment Research downgraded Franklin Electric from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. BidaskClub raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, February 20th. Boenning Scattergood reissued a “buy” rating and set a $54.00 price target on shares of Franklin Electric in a research report on Tuesday, February 19th. Finally, ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Friday, February 15th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $52.00.
Shares of FELE stock opened at $44.79 on Friday. The company has a current ratio of 2.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. Franklin Electric Co. has a fifty-two week low of $38.87 and a fifty-two week high of $55.59. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.89 and a beta of 1.32.
Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.19). Franklin Electric had a return on equity of 13.11% and a net margin of 7.25%. The firm had revenue of $290.70 million during the quarter, compared to analyst estimates of $304.61 million. During the same period in the previous year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts expect that Franklin Electric Co. will post 2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, May 1st. Franklin Electric’s payout ratio is currently 25.66%.
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Franklin Electric 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: How to invest in blue-chip stocks
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