Envestnet Asset Management Inc. Cuts Stake in Franklin Electric Co., Inc. $FELE

Envestnet Asset Management Inc. decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 164,744 shares of the industrial products company’s stock after selling 6,110 shares during the period. Envestnet Asset Management Inc. owned about 0.37% of Franklin Electric worth $15,684,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

Franklin Electric Stock Down 0.8%

FELE stock opened at $108.94 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.12. The company’s 50 day simple moving average is $100.01 and its 200-day simple moving average is $96.99. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.53. The firm has a market capitalization of $4.85 billion, a PE ratio of 35.49, a P/E/G ratio of 1.93 and a beta of 1.08.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be given a $0.28 dividend. 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 currently 36.48%.

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.