Wealth Enhancement Advisory Services LLC Raises Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,800 shares of the industrial products company’s stock after buying an additional 451 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Franklin Electric were worth $293,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Blue Trust Inc. increased its position in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares during the last quarter. CWM LLC raised its stake in shares of Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares during the period. USA Financial Formulas purchased a new position in Franklin Electric in the 3rd quarter valued at about $74,000. Signaturefd LLC increased its holdings in Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 164 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Franklin Electric during the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $98.89 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $102.60 and its two-hundred day moving average is $101.62. The firm has a market capitalization of $4.52 billion, a P/E ratio of 25.04, a PEG ratio of 1.81 and a beta of 1.00. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The company had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. During the same period in the prior year, the company posted $1.23 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.01%. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

Insider Activity

In other news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.72% of the stock is currently owned by company insiders.

About Franklin Electric

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.