California Public Employees Retirement System Sells 5,145 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

California Public Employees Retirement System cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,635 shares of the industrial products company's stock after selling 5,145 shares during the quarter. California Public Employees Retirement System owned 0.20% of Franklin Electric worth $9,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Franklin Electric in the fourth quarter valued at about $29,000. Trust Co. of Vermont acquired a new position in shares of Franklin Electric in the fourth quarter valued at approximately $40,000. Blue Trust Inc. raised its holdings in Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock valued at $52,000 after buying an additional 198 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock worth $62,000 after buying an additional 420 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Franklin Electric during the 3rd quarter worth approximately $77,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Trading Up 0.9 %

NASDAQ FELE traded up $0.82 on Friday, hitting $89.38. The company's stock had a trading volume of 230,529 shares, compared to its average volume of 198,881. The firm has a market cap of $4.09 billion, a PE ratio of 23.22, a PEG ratio of 2.11 and a beta of 1.02. The company's 50-day moving average is $98.01 and its 200 day moving average is $100.90. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 1-year low of $82.69 and a 1-year high of $111.94.

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Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. As a group, analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.265 dividend. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, February 6th. Franklin Electric's payout ratio is currently 27.53%.

Insider Activity at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is currently owned by company 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.