Marks Group Wealth Management Inc Has $8.54 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Marks Group Wealth Management Inc increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 81,497 shares of the industrial products company’s stock after purchasing an additional 3,507 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Franklin Electric were worth $8,543,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Franklin Electric by 55.7% in the third 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 last quarter. ORG Partners LLC acquired a new position in Franklin Electric during the 2nd quarter worth $36,000. GAMMA Investing LLC lifted its position in Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 410 shares during the last quarter. CWM LLC boosted its holdings in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of Franklin Electric in the third quarter valued at about $74,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Up 1.9 %

Shares of FELE stock opened at $100.80 on Wednesday. The firm has a market capitalization of $4.61 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. Franklin Electric Co., Inc. has a 1 year low of $85.82 and a 1 year high of $108.39. The firm’s fifty day simple moving average is $101.53 and its 200 day simple moving average is $100.09. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The company had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same period in the prior year, the company posted $1.23 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 3.82 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 7th. Franklin Electric’s payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price objective on 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 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.