3,454 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Purchased by Vestcor Inc

Vestcor Inc purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,454 shares of the industrial products company's stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FELE. Geode Capital Management LLC boosted its stake in shares of 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 worth $105,264,000 after acquiring an additional 9,170 shares in the last quarter. Allianz Asset Management GmbH boosted its position in 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 worth $79,098,000 after purchasing an additional 143,917 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Franklin Electric by 2.1% in the fourth 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 in the last quarter. KBC Group NV raised its stake in shares of Franklin Electric by 7.3% during the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after buying an additional 28,121 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 53,825 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

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Franklin Electric Price Performance

FELE traded down $2.45 during midday trading on Friday, hitting $95.56. 1,769,000 shares of the company traded hands, compared to its average volume of 173,100. The business has a 50 day simple moving average of $100.32 and a two-hundred day simple moving average of $101.80. Franklin Electric Co., Inc. has a 52-week low of $91.67 and a 52-week high of $111.94. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 24.82, 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.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (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 firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The firm 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 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric's dividend payout ratio (DPR) is currently 27.53%.

Insider Buying and Selling

In other 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 transaction, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.72% of the stock is currently owned by company 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.