Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,257 shares of the industrial products company’s stock after selling 441 shares during the quarter. QRG Capital Management Inc.’s holdings in Franklin Electric were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in Franklin Electric during the fourth quarter worth approximately $29,000. Trust Co. of Vermont acquired a new position in shares of Franklin Electric in the 4th quarter valued at $40,000. Blue Trust Inc. increased its holdings in shares of Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 198 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Franklin Electric in the 3rd quarter valued at $77,000. Finally, Covestor Ltd increased its holdings in shares of Franklin Electric by 15.6% in the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $100.95 on Thursday. The firm’s fifty day simple moving average is $99.57 and its 200-day simple moving average is $101.93. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.11 and a beta of 1.00. Franklin Electric Co., Inc. has a 12 month low of $91.67 and a 12 month high of $111.94. 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 (NASDAQ:FELE) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. As a group, equities analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.05%. 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. Franklin Electric’s payout ratio is presently 27.53%.

Insider Activity

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

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.