Quadrant Capital Group LLC Sells 223 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Quadrant Capital Group LLC decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,602 shares of the industrial products company’s stock after selling 223 shares during the period. Quadrant Capital Group LLC’s holdings in Franklin Electric were worth $156,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Franklin Electric during the fourth quarter worth about $56,968,000. Allianz Asset Management GmbH grew its holdings in Franklin Electric by 21.6% during the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock worth $79,098,000 after purchasing an additional 143,917 shares during the period. Proficio Capital Partners LLC bought a new position in Franklin Electric during the fourth quarter worth about $134,000. JPMorgan Chase & Co. grew its holdings in Franklin Electric by 60.1% during the fourth quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company’s stock worth $24,080,000 after purchasing an additional 92,793 shares during the period. Finally, Wealthfront Advisers LLC bought a new position in Franklin Electric during the fourth quarter worth about $8,046,000. Institutional investors own 79.98% of the company’s stock.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business’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 transaction of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Trading Up 8.0 %

Franklin Electric stock opened at $90.92 on Thursday. Franklin Electric Co., Inc. has a 52 week low of $82.69 and a 52 week high of $111.94. 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 stock has a market capitalization of $4.16 billion, a P/E ratio of 23.62, a PEG ratio of 2.11 and a beta of 1.02. The stock has a 50-day simple moving average of $98.43 and a 200 day simple moving average of $101.09.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The company 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. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. 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.