Wealthfront Advisers LLC Acquires New Shares in Franklin Electric Co., Inc. (NASDAQ:FELE)

Wealthfront Advisers LLC purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,568 shares of the industrial products company's stock, valued at approximately $8,046,000. Wealthfront Advisers LLC owned about 0.18% of Franklin Electric at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Franklin Electric by 0.9% in 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 purchasing an additional 9,170 shares in the last quarter. Allianz Asset Management GmbH grew its holdings 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 worth $79,098,000 after purchasing an additional 143,917 shares during the period. 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 worth $49,093,000 after acquiring an additional 10,580 shares in the last quarter. KBC Group NV increased its holdings in Franklin Electric by 7.3% in 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Franklin Electric by 15.9% in 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 purchasing an additional 53,825 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Franklin Electric Stock Down 1.5 %

NASDAQ FELE traded down $1.47 on Thursday, reaching $98.23. The company had a trading volume of 182,265 shares, compared to its average volume of 208,297. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 1 year low of $91.67 and a 1 year high of $111.94. The firm has a 50-day moving average of $99.88 and a 200-day moving average of $101.94. The firm has a market capitalization of $4.49 billion, a PE ratio of 25.51, a P/E/G ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.08%. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric's dividend payout ratio is presently 27.53%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm's 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 transaction, the insider now directly owns 7,701 shares of the company's stock, valued at $794,281.14. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.72% of the company's stock.

Franklin Electric Profile

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.