AlphaQuest LLC Buys 12,675 Shares of Franklin Electric Co., Inc. $FELE

AlphaQuest LLC raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 38.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,466 shares of the industrial products company’s stock after buying an additional 12,675 shares during the quarter. AlphaQuest LLC owned 0.10% of Franklin Electric worth $4,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position 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 valued at $38,000 after acquiring an additional 101 shares during the period. MAI Capital Management increased its stake in Franklin Electric by 36.5% in the second quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 131 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 in the last quarter. Covestor Ltd boosted its position in shares of 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 purchasing an additional 185 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Franklin Electric by 10.2% during the third quarter. GAMMA Investing LLC now owns 1,235 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 114 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $98.63 on Friday. 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 firm has a market cap of $4.39 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The stock’s 50-day moving average is $97.53 and its 200-day moving average is $95.85. Franklin Electric Co., Inc. has a one year low of $78.87 and a one year high of $108.08.

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

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 issued a dividend of $0.28 per share. The ex-dividend date 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 yield of 1.1%. Franklin Electric’s dividend payout ratio is currently 34.53%.

Wall Street Analyst Weigh In

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

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.