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

AlphaQuest LLC lifted its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 38.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,466 shares of the industrial products company’s stock after acquiring an additional 12,675 shares during the quarter. AlphaQuest LLC’s holdings in Franklin Electric were worth $4,328,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Franklin Electric by 81.6% in the first quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 1,796 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Franklin Electric by 105.5% in the 1st quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock valued at $2,390,000 after buying an additional 13,075 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Franklin Electric by 30.6% in the first quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company’s stock valued at $541,000 after buying an additional 1,349 shares in the last quarter. United Services Automobile Association acquired a new position in Franklin Electric during the first quarter worth $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Franklin Electric by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company’s stock worth $12,877,000 after acquiring an additional 10,862 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Up 0.5%

FELE opened at $98.63 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.54. The company has a market capitalization of $4.39 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.74 and a beta of 1.08. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $108.08. The stock has a fifty day moving average of $97.53 and a 200-day moving average of $95.85.

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

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be given a dividend of $0.28 per share. 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%. The ex-dividend date of this dividend is Thursday, February 5th. Franklin Electric’s dividend payout ratio (DPR) is currently 34.53%.

Analysts Set New Price Targets

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