Envestnet Asset Management Inc. Buys 3,318 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Envestnet Asset Management Inc. increased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 206,119 shares of the industrial products company's stock after buying an additional 3,318 shares during the period. Envestnet Asset Management Inc. owned 0.45% of Franklin Electric worth $20,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FELE. Norges Bank bought a new stake in Franklin Electric during the fourth quarter valued at approximately $56,968,000. Allianz Asset Management GmbH grew its position in Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after acquiring an additional 143,917 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Franklin Electric in the fourth quarter valued at $134,000. JPMorgan Chase & Co. raised its position in Franklin Electric by 60.1% during the fourth quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock valued at $24,080,000 after purchasing an additional 92,793 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in Franklin Electric during the fourth quarter worth about $8,046,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Price Performance

Shares of NASDAQ FELE traded down $0.58 during trading hours on Friday, reaching $86.61. 257,427 shares of the stock traded hands, compared to its average volume of 199,967. The company's 50-day simple moving average is $96.69 and its two-hundred day simple moving average is $100.31. The company has a market capitalization of $3.97 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Franklin Electric Co., Inc. has a 52-week low of $82.69 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.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced 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. The firm had revenue of $485.75 million during the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.22%. 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 27.53%.

Insider Buying and Selling

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The shares were 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 owns 7,701 shares of the company's stock, valued at $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.72% of the stock is owned by corporate insiders.

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.