Proficio Capital Partners LLC Takes $134,000 Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Proficio Capital Partners LLC purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 134,379 shares of the industrial products company’s stock, valued at approximately $134,000.

Other large investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its position in Franklin Electric by 73.1% in the 3rd quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock valued at $6,176,000 after acquiring an additional 24,889 shares during the period. Quantbot Technologies LP grew its stake in shares of Franklin Electric by 6,578.0% in the third quarter. Quantbot Technologies LP now owns 12,421 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 12,235 shares during the last quarter. FMR LLC increased its holdings in Franklin Electric by 49.4% in the third quarter. FMR LLC now owns 7,588 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 2,508 shares during the period. BNP Paribas Financial Markets raised its position in Franklin Electric by 15.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,027 shares of the industrial products company’s stock worth $4,091,000 after purchasing an additional 5,235 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Franklin Electric by 2.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 8,077 shares of the industrial products company’s stock worth $847,000 after buying an additional 202 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE stock opened at $94.60 on Friday. The business’s 50 day simple moving average is $100.31 and its 200 day simple moving average is $101.73. 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 Co., Inc. has a one year low of $91.67 and a one year high of $111.94. The stock has a market capitalization of $4.33 billion, a PE ratio of 24.57, 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 analysts’ consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. As a group, research 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Thursday, February 6th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is 27.53%.

Insider Activity

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction dated 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 transaction, the insider now owns 7,701 shares in the company, valued at $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.72% of the company’s stock.

Franklin Electric 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.