Whittier Trust Co. of Nevada Inc. Decreases Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Whittier Trust Co. of Nevada Inc. lowered its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,233 shares of the industrial products company’s stock after selling 317 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Franklin Electric were worth $218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. raised its holdings in shares of Franklin Electric by 9.5% during the fourth quarter. Xponance Inc. now owns 3,244 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 282 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Franklin Electric by 196.1% during the fourth quarter. Intech Investment Management LLC now owns 32,577 shares of the industrial products company’s stock worth $3,175,000 after purchasing an additional 21,576 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Franklin Electric during the fourth quarter valued at $413,000. Corient Private Wealth LLC grew its position in Franklin Electric by 10.1% during the fourth quarter. Corient Private Wealth LLC now owns 3,893 shares of the industrial products company’s stock valued at $379,000 after buying an additional 356 shares during the period. Finally, Royce & Associates LP acquired a new stake in Franklin Electric during the fourth quarter valued at $387,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Down 2.5 %

FELE stock opened at $95.56 on Monday. The firm has a market cap of $4.37 billion, a PE ratio of 24.82, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The firm’s fifty day moving average is $100.36 and its 200 day moving average is $101.78. Franklin Electric Co., Inc. has a one year low of $91.67 and a one year high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results 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 company had revenue of $485.75 million for 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 forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.265 dividend. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.11%. Franklin Electric’s dividend payout ratio (DPR) 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.