As Franklin Elec (FELE) Shares Declined, Shareholder Vaughan Nelson Investment Management LP Has Decreased Stake; Bank Pictet & Cie Asia LTD Has Raised Icici Bk LTD (IBN) Stake by $600,000 as Stock Declined

May 18, 2018 - By Dolores Ford

ICICI Bank Limited (NYSE:IBN) Logo

Vaughan Nelson Investment Management Lp decreased its stake in Franklin Elec Inc (FELE) by 25.17% based on its latest 2017Q4 regulatory filing with the SEC. Vaughan Nelson Investment Management Lp sold 327,825 shares as the company’s stock declined 11.12% with the market. The institutional investor held 974,400 shares of the consumer durables company at the end of 2017Q4, valued at $44.73 million, down from 1.30 million at the end of the previous reported quarter. Vaughan Nelson Investment Management Lp who had been investing in Franklin Elec Inc for a number of months, seems to be less bullish one the $2.13B market cap company. The stock increased 0.88% or $0.4 during the last trading session, reaching $45.8. About 100,731 shares traded. Franklin Electric Co., Inc. (NASDAQ:FELE) has declined 2.56% since May 18, 2017 and is downtrending. It has underperformed by 14.11% the S&P500.

Bank Pictet & Cie Asia Ltd increased its stake in Icici Bk Ltd (IBN) by 84.95% based on its latest 2017Q4 regulatory filing with the SEC. Bank Pictet & Cie Asia Ltd bought 150,000 shares as the company’s stock declined 11.13% with the market. The institutional investor held 326,572 shares of the commercial banks company at the end of 2017Q4, valued at $1.61M, up from 176,572 at the end of the previous reported quarter. Bank Pictet & Cie Asia Ltd who had been investing in Icici Bk Ltd for a number of months, seems to be bullish on the $28.37 billion market cap company. The stock decreased 1.03% or $0.09 during the last trading session, reaching $8.67. About 3.65M shares traded. ICICI Bank Limited (NYSE:IBN) has risen 12.06% since May 18, 2017 and is uptrending. It has outperformed by 0.51% the S&P500.

Among 7 analysts covering ICICI Bank (NYSE:IBN), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. ICICI Bank had 11 analyst reports since August 19, 2015 according to SRatingsIntel. The stock of ICICI Bank Limited (NYSE:IBN) has “Outperform” rating given on Thursday, April 21 by Credit Suisse. The firm earned “Buy” rating on Monday, September 14 by Goldman Sachs. Zacks upgraded the stock to “Hold” rating in Thursday, September 3 report. Morgan Stanley initiated ICICI Bank Limited (NYSE:IBN) on Tuesday, January 16 with “Buy” rating. Zacks upgraded ICICI Bank Limited (NYSE:IBN) on Tuesday, August 25 to “Sell” rating. On Tuesday, May 3 the stock rating was downgraded by Goldman Sachs to “Neutral”. On Monday, October 30 the stock rating was upgraded by Jefferies to “Buy”. The stock has “Buy” rating by Goldman Sachs on Monday, October 24. On Wednesday, August 19 the stock rating was upgraded by Zacks to “Sell”. Standpoint Research upgraded the stock to “Hold” rating in Wednesday, August 26 report.

Bank Pictet & Cie Asia Ltd, which manages about $230.78M US Long portfolio, decreased its stake in Aetna Inc New (NYSE:AET) by 5,098 shares to 4,293 shares, valued at $774,000 in 2017Q4, according to the filing. It also reduced its holding in Nike Inc (NYSE:NKE) by 15,501 shares in the quarter, leaving it with 228,310 shares, and cut its stake in Alphabet Inc.

More recent Franklin Electric Co., Inc. (NASDAQ:FELE) news were published by: Nasdaq.com which released: “Franklin Electric’s New SSI Series Offers High Flow, Corrosion Resistance, & Increased Efficiency In Harsh Pumping …” on May 16, 2018. Also Seekingalpha.com published the news titled: “Franklin Electric’s (FELE) CEO Gregg Sengstack on Q1 2018 Results – Earnings Call Transcript” on May 01, 2018. Globenewswire.com‘s news article titled: “Franklin Electric Declares Payment of Quarterly Cash Dividend” with publication date: April 23, 2018 was also an interesting one.

Analysts await Franklin Electric Co., Inc. (NASDAQ:FELE) to report earnings on July, 24. They expect $0.70 EPS, up 20.69% or $0.12 from last year’s $0.58 per share. FELE’s profit will be $32.57 million for 16.36 P/E if the $0.70 EPS becomes a reality. After $0.45 actual EPS reported by Franklin Electric Co., Inc. for the previous quarter, Wall Street now forecasts 55.56% EPS growth.

Vaughan Nelson Investment Management Lp, which manages about $9.91B and $8.64 billion US Long portfolio, upped its stake in Atlantica Yield Plc by 30,925 shares to 2.84M shares, valued at $60.16 million in 2017Q4, according to the filing. It also increased its holding in Fabrinet (NYSE:FN) by 896,930 shares in the quarter, for a total of 1.06 million shares, and has risen its stake in U S Silica Hldgs Inc (NYSE:SLCA).

Among 6 analysts covering Franklin Electric (NASDAQ:FELE), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Franklin Electric had 15 analyst reports since September 30, 2015 according to SRatingsIntel. The stock of Franklin Electric Co., Inc. (NASDAQ:FELE) has “Neutral” rating given on Wednesday, October 25 by Robert W. Baird. The company was downgraded on Friday, June 10 by Seaport Global. The company was upgraded on Monday, July 11 by Boenning & Scattergood. The rating was maintained by Boenning & Scattergood with “Buy” on Tuesday, July 25. The stock of Franklin Electric Co., Inc. (NASDAQ:FELE) has “Buy” rating given on Tuesday, May 1 by Boenning & Scattergood. The rating was maintained by Robert W. Baird with “Hold” on Wednesday, October 4. The rating was upgraded by Ladenburg Thalmann on Tuesday, January 12 to “Neutral”. As per Wednesday, February 24, the company rating was maintained by Wedbush. The firm earned “Hold” rating on Wednesday, April 4 by Robert W. Baird. The company was initiated on Thursday, October 15 by Boenning & Scattergood.

Investors sentiment increased to 1.38 in Q4 2017. Its up 0.14, from 1.24 in 2017Q3. It is positive, as 10 investors sold FELE shares while 48 reduced holdings. 27 funds opened positions while 53 raised stakes. 35.27 million shares or 0.28% less from 35.37 million shares in 2017Q3 were reported. First Trust Ltd Partnership holds 0.02% or 156,932 shares in its portfolio. Moreover, Kennedy Mgmt has 0.16% invested in Franklin Electric Co., Inc. (NASDAQ:FELE) for 199,959 shares. Commercial Bank Of Montreal Can holds 0% of its portfolio in Franklin Electric Co., Inc. (NASDAQ:FELE) for 1,491 shares. Fifth Third National Bank & Trust holds 0% of its portfolio in Franklin Electric Co., Inc. (NASDAQ:FELE) for 2,610 shares. The New York-based Bnp Paribas Arbitrage has invested 0% in Franklin Electric Co., Inc. (NASDAQ:FELE). Ameriprise Inc holds 0% or 201,358 shares in its portfolio. Invesco holds 346,388 shares. Manchester Capital Mgmt Ltd Liability holds 0.13% or 19,140 shares in its portfolio. Plancorp Ltd Llc holds 10,944 shares or 0.16% of its portfolio. Citadel Limited Liability Co accumulated 0% or 62,772 shares. Connecticut-based Zebra Capital Mgmt Ltd Limited Liability Company has invested 0.26% in Franklin Electric Co., Inc. (NASDAQ:FELE). Proshare Advsr Lc has 0.06% invested in Franklin Electric Co., Inc. (NASDAQ:FELE) for 181,677 shares. Connable Office Inc holds 7,797 shares. Guggenheim Ltd Liability Com holds 124,728 shares. American Gp invested 0.01% in Franklin Electric Co., Inc. (NASDAQ:FELE).

Since March 9, 2018, it had 0 buys, and 5 insider sales for $702,761 activity. Haines John J also sold $106,250 worth of Franklin Electric Co., Inc. (NASDAQ:FELE) on Friday, March 16. 1,281 Franklin Electric Co., Inc. (NASDAQ:FELE) shares with value of $57,645 were sold by Kenney Donald P.

Franklin Electric Co., Inc. (NASDAQ:FELE) Institutional Positions Chart

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