Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,225 shares of the industrial products company’s stock after selling 203 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Franklin Electric were worth $509,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vestcor Inc purchased a new stake in Franklin Electric during the fourth quarter worth about $337,000. Avantax Advisory Services Inc. increased its stake in Franklin Electric by 2.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 16,994 shares of the industrial products company’s stock worth $1,656,000 after buying an additional 455 shares during the period. HighTower Advisors LLC lifted its holdings in Franklin Electric by 19.3% during the 4th quarter. HighTower Advisors LLC now owns 6,160 shares of the industrial products company’s stock worth $600,000 after buying an additional 995 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Franklin Electric during the 4th quarter worth approximately $8,046,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Franklin Electric by 5.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,640 shares of the industrial products company’s stock valued at $939,000 after buying an additional 511 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Up 0.2 %

Franklin Electric stock opened at $100.28 on Tuesday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.11 and a beta of 0.98. 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 twelve month low of $91.67 and a twelve month high of $111.94. The stock’s fifty day simple moving average is $100.08 and its 200-day simple moving average is $101.87.

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

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.265 per share. 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%. 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.