ProShare Advisors LLC Reduces Stock Position in Franklin Electric Co., Inc. $FELE

ProShare Advisors LLC lessened its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,201 shares of the industrial products company’s stock after selling 7,847 shares during the quarter. ProShare Advisors LLC’s holdings in Franklin Electric were worth $6,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Franklin Electric by 31.2% in the second 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 during the last quarter. MAI Capital Management lifted its holdings in Franklin Electric by 36.5% during 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 in the last quarter. Osaic Holdings Inc. boosted 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 valued at $55,000 after buying an additional 119 shares during the period. Covestor Ltd boosted its position in Franklin Electric by 24.6% in the 3rd quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock valued at $89,000 after buying an additional 185 shares during the period. Finally, GAMMA Investing LLC grew its stake in Franklin Electric by 10.2% in the 3rd 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 currently owned by institutional investors.

Franklin Electric Stock Performance

Shares of FELE stock opened at $109.86 on Friday. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.53. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.89 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08. The business has a 50-day simple moving average of $99.71 and a 200-day simple moving average of $96.86.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. Franklin Electric’s dividend payout ratio is presently 36.48%.

Wall Street Analysts Forecast Growth

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

Franklin Electric 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.