Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 10.1% during the fourth quarter, Holdings Channel reports. The firm owned 3,893 shares of the industrial products company’s stock after buying an additional 356 shares during the period. Corient Private Wealth LLC’s holdings in Franklin Electric were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FELE. Citigroup Inc. grew its position in shares of Franklin Electric by 73.1% during the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock worth $6,176,000 after acquiring an additional 24,889 shares during the last quarter. Quantbot Technologies LP grew its position in Franklin Electric by 6,578.0% in the 3rd quarter. Quantbot Technologies LP now owns 12,421 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 12,235 shares during the last quarter. FMR LLC increased its stake in shares of Franklin Electric by 49.4% in the third quarter. FMR LLC now owns 7,588 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 2,508 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Franklin Electric by 15.5% during the third quarter. BNP Paribas Financial Markets now owns 39,027 shares of the industrial products company’s stock valued at $4,091,000 after buying an additional 5,235 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Franklin Electric by 2.6% during the third quarter. Glenmede Trust Co. NA now owns 8,077 shares of the industrial products company’s stock worth $847,000 after buying an additional 202 shares during the period. Institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE stock opened at $94.60 on Monday. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. The business has a 50 day simple moving average of $100.31 and a 200 day simple moving average of $101.82.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $465.87 million. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. Franklin Electric’s payout ratio is 27.53%.

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.