Allspring Global Investments Holdings LLC Buys 3,581 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Allspring Global Investments Holdings LLC lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,033,819 shares of the industrial products company’s stock after purchasing an additional 3,581 shares during the period. Allspring Global Investments Holdings LLC owned 4.45% of Franklin Electric worth $195,003,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in Franklin Electric in the second quarter valued at $426,000. CWM LLC lifted its stake in Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Franklin Electric by 8.3% during the 3rd quarter. Inspire Investing LLC now owns 4,028 shares of the industrial products company’s stock worth $422,000 after acquiring an additional 310 shares during the period. Exchange Traded Concepts LLC boosted its position in Franklin Electric by 136.6% during the third quarter. Exchange Traded Concepts LLC now owns 19,429 shares of the industrial products company’s stock worth $2,037,000 after purchasing an additional 11,217 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Franklin Electric Stock Up 0.0 %

FELE stock opened at $101.50 on Wednesday. The business’s fifty day moving average price is $100.08 and its two-hundred day moving average price is $101.71. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.97 and a beta of 1.00. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06.

Franklin Electric Increases Dividend

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

About Franklin Electric

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.