Allspring Global Investments Holdings LLC Has $195 Million Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Allspring Global Investments Holdings LLC raised its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors and hedge funds have also recently modified their holdings of FELE. Sanctuary Advisors LLC acquired a new position in shares of Franklin Electric in the second quarter valued at $426,000. CWM LLC increased its holdings in shares of Franklin Electric by 16.7% in the third 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 grew its stake in shares of Franklin Electric by 8.3% in the third quarter. Inspire Investing LLC now owns 4,028 shares of the industrial products company's stock valued at $422,000 after acquiring an additional 310 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Franklin Electric by 136.6% in the third quarter. Exchange Traded Concepts LLC now owns 19,429 shares of the industrial products company's stock valued at $2,037,000 after acquiring an additional 11,217 shares in the last quarter. Finally, Blue Trust Inc. grew 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 valued at $29,000 after acquiring an additional 107 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of FELE stock traded down $0.88 on Friday, hitting $99.98. The company's stock had a trading volume of 311,369 shares, compared to its average volume of 181,699. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The stock's 50 day moving average is $99.67 and its 200-day moving average is $101.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The company has a market capitalization of $4.57 billion, a PE ratio of 25.31, a PEG ratio of 1.97 and a beta of 1.00.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.265 per share. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date is Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.06%. Franklin Electric's dividend payout ratio is currently 26.84%.

Analyst Ratings Changes

Separately, Robert W. Baird decreased their price target on shares of Franklin Electric from $107.00 to $105.00 and set a "neutral" rating on the stock in a research note 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.