Connor Clark & Lunn Investment Management Ltd. decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 85.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,571 shares of the industrial products company's stock after selling 26,174 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Franklin Electric were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in FELE. Geode Capital Management LLC lifted its stake in Franklin Electric by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock valued at $105,264,000 after acquiring an additional 9,170 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Franklin Electric by 21.6% during the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after buying an additional 143,917 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $49,093,000 after buying an additional 10,580 shares during the period. KBC Group NV grew its holdings in Franklin Electric by 7.3% during the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after acquiring an additional 28,121 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Franklin Electric by 15.9% during the fourth 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 acquiring an additional 53,825 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
Franklin Electric Stock Performance
Shares of NASDAQ FELE traded up $0.14 during midday trading on Wednesday, reaching $97.97. 179,018 shares of the stock were exchanged, compared to its average volume of 172,153. 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 firm has a 50-day simple moving average of $100.41 and a two-hundred day simple moving average of $101.80. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.11 and a beta of 0.98.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The business had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is presently 27.53%.
Insiders Place Their Bets
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is currently owned by company insiders.
About Franklin Electric
(
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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