Skandinaviska Enskilda Banken AB publ Lowers Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 recently modified their holdings of the company. Intech Investment Management LLC increased its position in shares of Franklin Electric by 420.9% in the third quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock valued at $1,153,000 after buying an additional 8,889 shares in the last quarter. PDT Partners LLC increased its holdings in Franklin Electric by 241.8% in the 3rd quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after acquiring an additional 8,510 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Franklin Electric by 19.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 451 shares during the period. Citigroup Inc. lifted its holdings in Franklin Electric by 73.1% during the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock valued at $6,176,000 after purchasing an additional 24,889 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Franklin Electric in the fourth quarter valued at about $241,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Up 0.2 %

FELE stock opened at $100.28 on Tuesday. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The business’s 50-day moving average is $100.08 and its 200 day moving average is $101.87. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last posted 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. The firm had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. On average, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.06%. Franklin Electric’s payout ratio is presently 27.53%.

Insider Activity at Franklin Electric

In other 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 completion of the sale, the insider now owns 7,701 shares of the company’s stock, valued at $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.72% of the stock is currently owned by insiders.

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.