Thrivent Financial for Lutherans Has $2.96 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Thrivent Financial for Lutherans lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,370 shares of the industrial products company’s stock after selling 474 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Franklin Electric worth $2,960,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Spire Wealth Management bought a new stake in shares of Franklin Electric during the fourth quarter worth about $29,000. Trust Co. of Vermont purchased a new stake in shares of Franklin Electric in the fourth quarter worth approximately $40,000. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 66.2% in the fourth 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after buying an additional 420 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Franklin Electric during the third quarter worth $77,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $97.97 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.49 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. The stock’s fifty day simple moving average is $100.42 and its two-hundred day simple moving average is $101.77. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-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 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. The business had revenue of $485.75 million for 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%. As a group, analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is presently 27.53%.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction 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 sale, the insider now directly owns 7,701 shares in the company, 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.