16,100 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,100 shares of the industrial products company’s stock, valued at approximately $1,569,000.

Several other large investors also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in Franklin Electric by 5.2% in the 4th quarter. American Century Companies Inc. now owns 20,342 shares of the industrial products company’s stock worth $1,982,000 after purchasing an additional 997 shares during the last quarter. Xponance Inc. lifted its stake in shares of Franklin Electric by 9.5% in the fourth quarter. Xponance Inc. now owns 3,244 shares of the industrial products company’s stock worth $316,000 after buying an additional 282 shares during the last quarter. Intech Investment Management LLC grew its stake in Franklin Electric by 196.1% in the 4th quarter. Intech Investment Management LLC now owns 32,577 shares of the industrial products company’s stock valued at $3,175,000 after buying an additional 21,576 shares during the last quarter. Cibc World Markets Corp bought a new position in Franklin Electric in the 4th quarter worth $413,000. Finally, Corient Private Wealth LLC lifted its position in Franklin Electric by 10.1% during the 4th quarter. Corient Private Wealth LLC now owns 3,893 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 356 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Activity

In related 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 $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Trading Down 2.7 %

Shares of NASDAQ:FELE opened at $94.60 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The stock’s 50-day moving average is $100.31 and its 200-day moving average is $101.73. The company has a market cap of $4.33 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a 52-week low of $91.67 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. Equities research analysts predict 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. Shareholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a 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 presently 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.