Brevan Howard Capital Management LP Lowers Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Brevan Howard Capital Management LP cut its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 76.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,124 shares of the industrial products company's stock after selling 6,844 shares during the quarter. Brevan Howard Capital Management LP's holdings in Franklin Electric were worth $207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Franklin Electric in the fourth quarter valued at approximately $56,968,000. Allianz Asset Management GmbH grew its stake in shares of Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock valued at $79,098,000 after purchasing an additional 143,917 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Franklin Electric during the fourth quarter worth $134,000. JPMorgan Chase & Co. raised its holdings in shares of Franklin Electric by 60.1% in the fourth quarter. JPMorgan Chase & Co. now owns 247,098 shares of the industrial products company's stock worth $24,080,000 after acquiring an additional 92,793 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Franklin Electric in the fourth quarter valued at $8,046,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Up 1.6%

Franklin Electric stock traded up $1.44 during midday trading on Friday, reaching $89.96. The stock had a trading volume of 320,731 shares, compared to its average volume of 206,241. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.94. The company has a fifty day moving average price of $90.86 and a two-hundred day moving average price of $98.14. The company has a market capitalization of $4.10 billion, a P/E ratio of 23.37, a PEG ratio of 2.11 and a beta of 1.08. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $455.25 million for the quarter, compared to analysts' expectations of $471.21 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.18%. Franklin Electric's dividend payout ratio is presently 27.75%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. StockNews.com raised Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday.

Insider Buying and Selling at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the company'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 sale, the insider now owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.72% of the stock is owned by insiders.

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.