MQS Management LLC Sells 4,962 Shares of Franklin Electric Co., Inc. $FELE

MQS Management LLC lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 61.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,102 shares of the industrial products company’s stock after selling 4,962 shares during the period. MQS Management LLC’s holdings in Franklin Electric were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 101 shares in the last quarter. MAI Capital Management increased its holdings in Franklin Electric by 36.5% in the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock worth $44,000 after buying an additional 131 shares in the last quarter. Osaic Holdings Inc. raised its position in Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after buying an additional 119 shares during the last quarter. Covestor Ltd lifted its stake in Franklin Electric by 24.6% during the 3rd quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 185 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Franklin Electric by 10.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 114 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Stock Up 0.2%

Shares of FELE stock opened at $109.86 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.53. The stock has a market cap of $4.89 billion, a P/E ratio of 35.79, a P/E/G ratio of 1.94 and a beta of 1.08. The company has a 50 day simple moving average of $99.71 and a two-hundred day simple moving average of $96.86.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be given a dividend of $0.28 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 5th. Franklin Electric’s dividend payout ratio (DPR) is 36.48%.

Analysts Set New Price Targets

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

About Franklin Electric

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.