UniSuper Management Pty Ltd Sells 7,100 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

UniSuper Management Pty Ltd lessened its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,465 shares of the industrial products company’s stock after selling 7,100 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Franklin Electric were worth $5,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spire Wealth Management purchased a new position in shares of Franklin Electric in the 4th quarter worth approximately $29,000. Trust Co. of Vermont acquired a new position in shares of Franklin Electric during the fourth quarter worth $40,000. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 66.2% during the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 198 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 420 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Franklin Electric in the 3rd quarter worth $77,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Trading Down 2.7 %

Shares of NASDAQ:FELE opened at $94.60 on Friday. The business’s 50-day moving average is $100.31 and its 200 day 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 1 year low of $91.67 and a 1 year high of $111.94. The firm has a market capitalization of $4.33 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm had revenue of $485.75 million during the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. On average, research analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.12%. Franklin Electric’s payout ratio is 27.53%.

Insider Activity at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is 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.