Intech Investment Management LLC Buys 3,717 Shares of Franklin Electric Co., Inc. $FELE

Intech Investment Management LLC boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,294 shares of the industrial products company’s stock after buying an additional 3,717 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of Franklin Electric worth $3,407,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Franklin Electric by 168.5% during the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 182 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Franklin Electric in the first quarter worth approximately $46,000. Public Employees Retirement System of Ohio purchased a new position in Franklin Electric during the 4th quarter worth $52,000. Covestor Ltd raised its position in Franklin Electric by 27.4% during the 1st quarter. Covestor Ltd now owns 731 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 157 shares in the last quarter. Finally, USA Financial Formulas lifted its holdings in shares of Franklin Electric by 50.0% in the 1st quarter. USA Financial Formulas now owns 900 shares of the industrial products company’s stock worth $84,000 after buying an additional 300 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FELE has been the subject of several recent research reports. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Robert W. Baird upped their price target on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric currently has a consensus rating of “Hold” and a consensus target price of $107.00.

Franklin Electric Trading Down 2.3%

NASDAQ:FELE opened at $94.63 on Friday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.95 and a beta of 1.07. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The company has a quick ratio of 0.77, a current ratio of 1.72 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $94.71 and a 200 day moving average of $92.04.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%.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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were paid a $0.265 dividend. 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 27.39%.

Franklin Electric declared that its Board of Directors has approved a stock buyback plan on Friday, June 13th that authorizes the company to repurchase 1,200,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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 stock was sold at an average price of $98.03, for a total value of $983,829.08. Following the completion of the sale, the insider owned 8,171 shares of the company’s stock, 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 the SEC website. Corporate insiders own 2.72% of the company’s stock.

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.