Vestcor Inc Takes $337,000 Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Vestcor Inc purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,454 shares of the industrial products company’s stock, valued at approximately $337,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BHK Investment Advisors LLC grew its position in shares of 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 boosted its holdings in 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 during the period. MML Investors Services LLC increased its stake in Franklin Electric by 2.6% during the third quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after purchasing an additional 156 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Franklin Electric by 4.1% during the fourth quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 164 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Franklin Electric by 14.5% in the 4th quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company’s stock worth $136,000 after buying an additional 177 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $100.28 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The firm has a 50-day simple moving average of $100.08 and a 200 day simple moving average of $101.87. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The company has a market cap of $4.58 billion, a PE ratio of 26.05, a P/E/G ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last announced 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. 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 for the quarter, compared to analysts’ expectations of $465.87 million. On average, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The company also recently declared 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 is an increase 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 1.06%. Franklin Electric’s payout ratio is 27.53%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.