By otakuyassine3@gmail.com 
Wells Fargo & Company MN increased its position in Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 171,994 shares of the industrial products company’s stock after buying an additional 12,799 shares during the quarter. Wells Fargo & Company MN owned about 0.38% of Franklin Electric worth $16,761,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Franklin Electric in the 4th quarter worth about $56,968,000. Allianz Asset Management GmbH raised its holdings 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 valued at $79,098,000 after buying an additional 143,917 shares during the period. Proficio Capital Partners LLC acquired a new position in Franklin Electric during the fourth quarter valued at approximately $134,000. JPMorgan Chase & Co. grew its stake 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 worth $24,080,000 after buying an additional 92,793 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Franklin Electric in the fourth quarter worth $8,046,000. Institutional investors and hedge funds own 79.98% of the company’s stock.
Insider Transactions at Franklin Electric
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 2.72% of the company’s stock.
Franklin Electric Stock Performance
Shares of FELE stock opened at $89.38 on Monday. 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 company has a market cap of $4.09 billion, a PE ratio of 23.22, a P/E/G ratio of 2.11 and a beta of 1.02. The company’s fifty day simple moving average is $98.01 and its 200-day simple moving average is $100.87. Franklin Electric Co., Inc. has a 52 week low of $82.69 and a 52 week high of $111.94.
Franklin Electric (NASDAQ:FELE – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.
Franklin Electric Company 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.
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