Corient Private Wealth LLC Grows Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Corient Private Wealth LLC grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,893 shares of the industrial products company’s stock after acquiring 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 SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FELE. BHK Investment Advisors LLC boosted its holdings in Franklin Electric by 2.5% in the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock worth $501,000 after acquiring an additional 125 shares during the period. Sanctuary Advisors LLC grew its holdings in Franklin Electric by 3.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 145 shares in the last quarter. MML Investors Services LLC increased its stake in Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after buying an additional 156 shares during the period. Inspire Investing LLC lifted its holdings in Franklin Electric by 4.1% in the 4th quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock worth $409,000 after buying an additional 164 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Franklin Electric by 14.5% in the 4th quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company’s stock valued at $136,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,701 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 2.72% of the company’s stock.

Franklin Electric Stock Down 2.7 %

Shares of NASDAQ FELE opened at $94.60 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a 1 year low of $91.67 and a 1 year high of $111.94. The stock’s 50-day simple moving average is $100.31 and its 200-day simple moving average is $101.82. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data 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. The company had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. As a group, equities analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

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