Wealth Enhancement Advisory Services LLC Invests $246,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,349 shares of the industrial products company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FELE. CWM LLC raised its position 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 worth $72,000 after purchasing an additional 98 shares during the period. Blue Trust Inc. lifted its stake in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares in the last quarter. Marshall Wace LLP increased its position in shares of Franklin Electric by 1.0% in the second quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 109 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 164 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Franklin Electric by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 10,971 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 195 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now owns 9,032 shares of the company’s stock, valued at $905,187.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Franklin Electric Stock Up 2.2 %

Shares of FELE opened at $110.17 on Tuesday. The company has a 50-day moving average price of $101.88 and a two-hundred day moving average price of $100.22. Franklin Electric Co., Inc. has a 12 month low of $86.74 and a 12 month high of $110.97. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS 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 business 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 firm posted $1.23 EPS. Franklin Electric’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. Franklin Electric’s payout ratio is presently 25.32%.

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.