Marks Group Wealth Management Inc Has $7.69 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Marks Group Wealth Management Inc reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,929 shares of the industrial products company’s stock after selling 2,568 shares during the quarter. Marks Group Wealth Management Inc owned 0.17% of Franklin Electric worth $7,692,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FELE. Allspring Global Investments Holdings LLC raised its holdings in shares of Franklin Electric by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after purchasing an additional 40,248 shares during the period. Geode Capital Management LLC increased its position in Franklin Electric by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock worth $105,264,000 after buying an additional 9,170 shares during the last quarter. Boston Trust Walden Corp increased its position in Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after buying an additional 3,847 shares during the last quarter. KBC Group NV raised its stake in Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after buying an additional 28,121 shares during the period. Finally, Tributary Capital Management LLC lifted its position in shares of Franklin Electric by 1.2% in the fourth quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company’s stock valued at $17,650,000 after buying an additional 2,212 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Ratings Changes

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

Franklin Electric Stock Up 0.0 %

Shares of FELE opened at $101.50 on Wednesday. The firm’s 50-day simple moving average is $100.08 and its 200 day simple moving average is $101.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The firm has a market cap of $4.64 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.97 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio (DPR) is 26.84%.

Franklin Electric 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.