Prudential Financial Inc. Sells 2,465 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Prudential Financial Inc. decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,140 shares of the industrial products company’s stock after selling 2,465 shares during the quarter. Prudential Financial Inc. owned approximately 0.09% of Franklin Electric worth $4,258,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FELE. BHK Investment Advisors LLC increased its holdings in Franklin Electric by 2.5% in the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock worth $501,000 after acquiring an additional 125 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 145 shares in the last quarter. MML Investors Services LLC lifted its stake in shares of Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after buying an additional 156 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Franklin Electric by 4.1% in the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 164 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Franklin Electric by 14.5% during the 4th quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 177 shares during the period. Institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling 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 stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Trading Up 1.3 %

Shares of FELE opened at $95.11 on Wednesday. The firm has a market cap of $4.35 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. 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 company has a 50 day simple moving average of $100.10 and a two-hundred day simple moving average of $101.79.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. The company had revenue of $485.75 million during 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%. On average, equities analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.265 dividend. This is an increase 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 1.11%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric’s payout ratio is currently 27.53%.

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.