Edgestream Partners L.P. Boosts Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Edgestream Partners L.P. lifted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 108.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,096 shares of the industrial products company’s stock after buying an additional 26,070 shares during the quarter. Edgestream Partners L.P. owned approximately 0.11% of Franklin Electric worth $4,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FELE. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Franklin Electric in the 3rd quarter valued at $246,000. Van ECK Associates Corp raised its holdings in shares of Franklin Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock valued at $2,532,000 after buying an additional 7,092 shares during the period. QRG Capital Management Inc. increased its holdings in Franklin Electric by 16.0% during the 3rd quarter. QRG Capital Management Inc. now owns 5,698 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 786 shares during the period. Covestor Ltd increased its holdings in Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 103 shares during the period. Finally, Aptus Capital Advisors LLC increased its holdings in Franklin Electric by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 27,741 shares of the industrial products company’s stock worth $2,908,000 after purchasing an additional 3,744 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of the company’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 transaction, the insider now directly owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is owned by company insiders.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $102.75 on Friday. The stock’s 50-day moving average is $99.71 and its two-hundred day moving average is $101.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results 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 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 the consensus estimate of $465.87 million. Analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal 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 issued a dividend of $0.265 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.03%. Franklin Electric’s dividend payout ratio is 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.