Franklin Electric Co., Inc. $FELE Shares Bought by Summit Global Investments

Summit Global Investments grew its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 176.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,916 shares of the industrial products company’s stock after purchasing an additional 5,690 shares during the period. Summit Global Investments’ holdings in Franklin Electric were worth $849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after buying an additional 101 shares during the period. Fortress Financial Solutions LLC increased its position in shares of Franklin Electric by 2.5% during the second quarter. Fortress Financial Solutions LLC now owns 4,546 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 110 shares during the period. GAMMA Investing LLC boosted its holdings in Franklin Electric by 10.2% in the third quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 114 shares during the period. Osaic Holdings Inc. boosted its holdings in Franklin Electric by 24.3% in the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 119 shares during the period. Finally, MAI Capital Management grew its stake in Franklin Electric by 36.5% during the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research note on Monday, December 29th. Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.00.

Franklin Electric Stock Performance

Shares of FELE opened at $99.62 on Friday. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $108.08. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $97.66 and a 200 day moving average price of $95.91.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.01. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The business had revenue of $581.71 million during the quarter, compared to the consensus estimate of $563.18 million. During the same quarter in the previous year, the firm earned $1.17 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. Research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, February 5th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. Franklin Electric’s dividend payout ratio is 34.53%.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.