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

Allspring Global Investments Holdings LLC boosted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,033,819 shares of the industrial products company’s stock after buying an additional 3,581 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Franklin Electric were worth $195,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FELE. KBC Group NV lifted its position in shares of Franklin Electric by 19.6% during the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock worth $40,571,000 after buying an additional 63,436 shares during the last quarter. Barclays PLC lifted its stake in Franklin Electric by 237.3% in the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock valued at $9,184,000 after purchasing an additional 61,640 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Franklin Electric by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company’s stock valued at $16,174,000 after acquiring an additional 31,937 shares in the last quarter. Quest Partners LLC increased its stake in shares of Franklin Electric by 691.6% in the third quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company’s stock valued at $3,141,000 after buying an additional 26,184 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Franklin Electric by 73.1% in the third quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock valued at $6,176,000 after buying an additional 24,889 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Price Performance

Shares of FELE opened at $101.50 on Wednesday. The business has a 50-day moving average of $100.08 and a 200-day moving average of $101.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The company has a market capitalization 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 1 year low of $91.67 and a 1 year high of $111.94.

Franklin Electric Increases Dividend

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

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on shares of 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 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.