Franklin Electric Co., Inc. (NASDAQ:FELE) is Tributary Capital Management LLC’s 9th Largest Position

Tributary Capital Management LLC cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,071 shares of the industrial products company’s stock after selling 3,309 shares during the period. Franklin Electric makes up about 2.0% of Tributary Capital Management LLC’s holdings, making the stock its 9th largest holding. Tributary Capital Management LLC owned approximately 0.49% of Franklin Electric worth $24,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in Franklin Electric in the fourth quarter worth approximately $26,000. GAMMA Investing LLC grew its position in Franklin Electric by 88.0% in the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 147 shares during the period. Principal Securities Inc. purchased a new position in Franklin Electric in the fourth quarter worth approximately $33,000. VisionPoint Advisory Group LLC purchased a new position in Franklin Electric in the third quarter worth approximately $37,000. Finally, Signaturefd LLC grew its position in Franklin Electric by 35.3% in the fourth quarter. Signaturefd LLC now owns 541 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 141 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of Franklin Electric stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the sale, the insider now directly owns 8,014 shares of the company’s stock, valued at approximately $817,908.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $98.00, for a total value of $136,318.00. Following the transaction, the insider now owns 18,103 shares in the company, valued at approximately $1,774,094. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Delancey W. Davis sold 2,214 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.06, for a total value of $225,960.84. Following the completion of the transaction, the insider now owns 8,014 shares in the company, valued at approximately $817,908.84. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Stock Down 2.4 %

Shares of NASDAQ FELE traded down $2.35 during mid-day trading on Monday, hitting $93.97. The company had a trading volume of 189,910 shares, compared to its average volume of 179,777. The company has a market capitalization of $4.33 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The business’s 50-day simple moving average is $98.68 and its 200 day simple moving average is $98.91. Franklin Electric Co., Inc. has a 1-year low of $82.61 and a 1-year high of $107.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.85 and a quick ratio of 1.17.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The company had revenue of $460.90 million during the quarter, compared to analysts’ expectations of $477.64 million. Franklin Electric had a net margin of 9.25% and a return on equity of 15.86%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. On average, analysts predict that Franklin Electric Co., Inc. will post 4.27 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FELE. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. DA Davidson increased their price objective on Franklin Electric from $87.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st.

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.