Franklin Electric Co., Inc. $FELE Shares Bought by Vest Financial LLC

Vest Financial LLC grew its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 34.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 42,930 shares of the industrial products company’s stock after acquiring an additional 11,109 shares during the period. Vest Financial LLC’s holdings in Franklin Electric were worth $3,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FELE. Nuveen LLC acquired a new stake in shares of Franklin Electric during the 1st quarter valued at $41,837,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Franklin Electric during the 1st quarter valued at $12,592,000. Jones Financial Companies Lllp acquired a new stake in shares of Franklin Electric during the 1st quarter valued at $10,005,000. Select Equity Group L.P. acquired a new stake in shares of Franklin Electric during the 1st quarter valued at $8,696,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Franklin Electric during the 1st quarter valued at $7,798,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Buying and Selling at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total value of $983,829.08. Following the transaction, the insider directly owned 8,171 shares of the company’s stock, valued at approximately $801,003.13. This represents a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Trading Up 1.2%

NASDAQ FELE opened at $92.84 on Tuesday. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.13 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08. The firm’s fifty day simple moving average is $95.71 and its 200-day simple moving average is $91.30.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results 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 business had revenue of $587.43 million for the quarter, compared to the consensus estimate of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. As a group, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.265 dividend. The ex-dividend date of this dividend 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 is 27.39%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a research note on Saturday, September 27th. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Robert W. Baird boosted their target price on shares of Franklin Electric from $94.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric 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.