King Luther Capital Management Corp Sells 1,143 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

King Luther Capital Management Corp trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,181,656 shares of the industrial products company’s stock after selling 1,143 shares during the quarter. King Luther Capital Management Corp owned 2.59% of Franklin Electric worth $115,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in Franklin Electric in the third quarter worth about $246,000. Van ECK Associates Corp boosted its position in Franklin Electric by 40.0% in the third 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 last quarter. Covestor Ltd boosted its position in Franklin Electric by 15.6% in the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after buying an additional 103 shares during the last quarter. Aptus Capital Advisors LLC boosted its position in Franklin Electric by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 27,741 shares of the industrial products company’s stock valued at $2,908,000 after buying an additional 3,744 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Franklin Electric by 1.6% in the third quarter. Victory Capital Management Inc. now owns 14,300 shares of the industrial products company’s stock valued at $1,499,000 after buying an additional 227 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the stock in a transaction dated 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. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $100.50 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The business’s 50 day moving average price is $99.77 and its 200 day moving average price is $101.97. The firm has a market cap of $4.59 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last announced its 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 business had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.265 dividend. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, February 6th. Franklin Electric’s dividend 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.