Fortress Financial Solutions LLC Acquires Shares of 4,001 Franklin Electric Co., Inc. (NASDAQ:FELE)

Fortress Financial Solutions LLC acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,001 shares of the industrial products company’s stock, valued at approximately $390,000.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Franklin Electric by 2.0% during 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 acquiring an additional 40,248 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Franklin Electric by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock valued at $105,264,000 after purchasing an additional 9,170 shares during the period. Boston Trust Walden Corp raised its stake in shares of 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 purchasing an additional 3,847 shares during the last quarter. KBC Group NV lifted its holdings in shares of Franklin Electric by 7.3% during the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock worth $40,459,000 after purchasing an additional 28,121 shares during the period. Finally, Tributary Capital Management LLC grew its position in Franklin Electric by 1.2% in the 4th 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. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Stock Performance

Shares of FELE stock opened at $101.50 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $100.08 and a 200-day simple moving average of $101.71. The company has a market cap of $4.64 billion, a price-to-earnings 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 12-month low of $91.67 and a 12-month high of $111.94.

Franklin Electric Increases Dividend

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

Analyst Ratings Changes

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 Company 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.