Cibc World Markets Corp acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,239 shares of the industrial products company's stock, valued at approximately $413,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC grew its position in Franklin Electric by 10.1% in the 4th quarter. Corient Private Wealth LLC now owns 3,893 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 356 shares during the period. Royce & Associates LP acquired a new position in shares of Franklin Electric during the fourth quarter valued at about $387,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Franklin Electric by 6.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,369 shares of the industrial products company's stock worth $328,000 after acquiring an additional 209 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Franklin Electric by 5.9% in the 4th quarter. Natixis Advisors LLC now owns 15,419 shares of the industrial products company's stock worth $1,503,000 after acquiring an additional 856 shares during the last quarter. Finally, Vestcor Inc bought a new position in Franklin Electric in the 4th quarter valued at about $337,000. Institutional investors own 79.98% of the company's stock.
Franklin Electric Stock Up 0.1 %
FELE traded up $0.14 during midday trading on Wednesday, reaching $97.97. 179,018 shares of the company were exchanged, compared to its average volume of 172,272. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a one year low of $91.67 and a one year high of $111.94. The company's fifty day moving average price is $100.42 and its 200 day moving average price is $101.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22.
Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.08%. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's dividend payout ratio (DPR) is currently 27.53%.
Insider Transactions at Franklin Electric
In related news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.72% of the company's stock.
Franklin Electric Profile
(
Free Report)
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.
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