Edgestream Partners L.P. Increases Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Edgestream Partners L.P. boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 108.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,096 shares of the industrial products company's stock after purchasing an additional 26,070 shares during the quarter. Edgestream Partners L.P. owned about 0.11% of Franklin Electric worth $4,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Franklin Electric by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock valued at $105,264,000 after buying an additional 9,170 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Franklin Electric by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after acquiring an additional 143,917 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franklin Electric by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after purchasing an additional 10,580 shares in the last quarter. KBC Group NV grew its position in Franklin Electric by 7.3% during the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock valued at $40,459,000 after purchasing an additional 28,121 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Franklin Electric by 15.9% during the 4th quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company's stock valued at $38,208,000 after purchasing an additional 53,825 shares in the last quarter. Institutional investors own 79.98% of the company's stock.

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Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.72% of the company's stock.

Franklin Electric Stock Down 1.1 %

Shares of NASDAQ FELE traded down $1.08 during midday trading on Wednesday, hitting $99.70. The stock had a trading volume of 232,213 shares, compared to its average volume of 206,612. The business's 50 day moving average is $99.84 and its 200-day moving average is $101.96. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.56 billion, a P/E ratio of 25.90, a PEG ratio of 2.11 and a beta of 0.98.

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

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. This is an increase 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 1.06%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric's dividend payout ratio (DPR) is 27.53%.

About Franklin Electric

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.