US Bancorp DE Has $681,000 Position in Franklin Electric Co., Inc. $FELE

US Bancorp DE reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,592 shares of the industrial products company’s stock after selling 756 shares during the quarter. US Bancorp DE’s holdings in Franklin Electric were worth $681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Franklin Electric by 168.5% in the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Franklin Electric in the first quarter valued at about $46,000. Covestor Ltd grew its position in shares of Franklin Electric by 27.4% in the first quarter. Covestor Ltd now owns 731 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 157 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Franklin Electric by 42.2% in the first quarter. Smartleaf Asset Management LLC now owns 913 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 271 shares during the last quarter. Finally, CWM LLC grew its position in shares of Franklin Electric by 60.7% in the first quarter. CWM LLC now owns 1,175 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 444 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total transaction of $983,829.08. Following the completion of the transaction, the insider owned 8,171 shares in the company, valued at $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Up 1.0%

Shares of FELE opened at $97.30 on Monday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 1.96 and a beta of 1.08. The company has a quick ratio of 0.77, a current ratio of 1.72 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 company has a 50-day moving average price of $95.90 and a two-hundred day moving average price of $91.35.

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

Franklin Electric Dividend Announcement

The firm also recently declared 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 yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is currently 27.39%.

Wall Street Analysts Forecast Growth

FELE has been the topic of a number of recent research reports. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Electric in a research report on Tuesday, October 14th. Finally, Robert W. Baird lifted their target price on Franklin Electric from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $107.00.

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.