Great Lakes Advisors LLC Reduces Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Great Lakes Advisors LLC trimmed its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 55.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,146 shares of the industrial products company’s stock after selling 2,666 shares during the period. Great Lakes Advisors LLC’s holdings in Franklin Electric were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FELE. Victory Capital Management Inc. lifted its stake in shares of Franklin Electric by 1.6% during the third quarter. Victory Capital Management Inc. now owns 14,300 shares of the industrial products company’s stock valued at $1,499,000 after buying an additional 227 shares during the period. Chesapeake Capital Corp IL raised its holdings in Franklin Electric by 79.8% in the 3rd quarter. Chesapeake Capital Corp IL now owns 4,610 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 2,046 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Franklin Electric by 691.6% during the 3rd quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company’s stock worth $3,141,000 after purchasing an additional 26,184 shares during the period. Caprock Group LLC acquired a new stake in shares of Franklin Electric during the third quarter worth $208,000. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Franklin Electric in the third quarter valued at $223,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Franklin Electric stock opened at $100.08 on Monday. The stock has a fifty day moving average price of $100.00 and a 200 day moving average price of $101.89. 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 Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The firm has a market capitalization of $4.58 billion, a P/E ratio of 25.99, a PEG ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $465.87 million. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The business 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 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 annualized dividend and a dividend yield of 1.06%. Franklin Electric’s payout ratio is currently 27.53%.

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 dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.