Fenimore Asset Management Inc Acquires 341 Shares of Franklin Electric Co., Inc. $FELE

Fenimore Asset Management Inc grew its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,653 shares of the industrial products company’s stock after purchasing an additional 341 shares during the quarter. Fenimore Asset Management Inc owned approximately 0.31% of Franklin Electric worth $12,532,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FELE. Allspring Global Investments Holdings LLC lifted its holdings in Franklin Electric by 0.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045,534 shares of the industrial products company’s stock valued at $194,551,000 after buying an additional 11,715 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Franklin Electric by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company’s stock worth $78,295,000 after purchasing an additional 22,303 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Franklin Electric by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,965 shares of the industrial products company’s stock worth $48,063,000 after purchasing an additional 8,190 shares during the period. Nuveen LLC bought a new stake in Franklin Electric during the 1st quarter valued at $41,837,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Franklin Electric by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 209,887 shares of the industrial products company’s stock worth $19,704,000 after buying an additional 4,675 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the completion of the transaction, the insider directly owned 8,171 shares in the company, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Stock Performance

FELE opened at $96.32 on Monday. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94. The firm has a 50 day moving average of $95.78 and a two-hundred day moving average of $91.44. The firm has a market capitalization of $4.28 billion, a PE ratio of 24.89, a P/E/G ratio of 1.94 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. The firm had revenue of $587.43 million for the quarter, compared to analyst estimates of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. On average, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric announced that its board has initiated a stock buyback program on Friday, June 13th that permits the company to repurchase 1,200,000 outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is presently 27.39%.

Wall Street Analyst Weigh In

FELE has been the topic of several research reports. Robert W. Baird raised their price target on Franklin Electric from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric presently has an average rating of “Hold” and a consensus target price of $107.00.

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.