UniSuper Management Pty Ltd reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,465 shares of the industrial products company's stock after selling 7,100 shares during the quarter. UniSuper Management Pty Ltd owned 0.12% of Franklin Electric worth $5,503,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in FELE. Spire Wealth Management bought a new position in shares of Franklin Electric in the fourth quarter worth approximately $29,000. Trust Co. of Vermont purchased a new stake in Franklin Electric in the fourth quarter worth about $40,000. Blue Trust Inc. boosted its stake in Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after purchasing an additional 198 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after buying an additional 420 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Franklin Electric during the 3rd quarter valued at $77,000. 79.98% of the stock is owned by hedge funds and other institutional investors.
Franklin Electric Stock Performance
NASDAQ:FELE traded up $0.60 during mid-day trading on Wednesday, reaching $95.71. The company's stock had a trading volume of 44,492 shares, compared to its average volume of 190,470. The stock has a market cap of $4.38 billion, a P/E ratio of 24.83, a PEG ratio of 2.11 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm's fifty day moving average price is $100.10 and its two-hundred day moving average price is $101.79. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $465.87 million. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The firm 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. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.11%. Franklin Electric's payout ratio is currently 27.53%.
Insider Buying and Selling
In related news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction dated 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 transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by company insiders.
Franklin Electric Company Profile
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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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