Inspire Investing LLC Sells 462 Shares of Franklin Electric Co., Inc. $FELE

Inspire Investing LLC reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,730 shares of the industrial products company’s stock after selling 462 shares during the period. Inspire Investing LLC’s holdings in Franklin Electric were worth $350,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FELE. Deutsche Bank AG increased its position in Franklin Electric by 15.6% in the 4th quarter. Deutsche Bank AG now owns 80,432 shares of the industrial products company’s stock worth $7,838,000 after buying an additional 10,862 shares during the period. Janus Henderson Group PLC increased its position in Franklin Electric by 15.5% in the 4th quarter. Janus Henderson Group PLC now owns 87,906 shares of the industrial products company’s stock worth $8,567,000 after buying an additional 11,775 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Franklin Electric by 6.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,195 shares of the industrial products company’s stock worth $3,137,000 after buying an additional 1,842 shares during the period. Nuveen Asset Management LLC increased its position in Franklin Electric by 13.5% in the 4th quarter. Nuveen Asset Management LLC now owns 430,213 shares of the industrial products company’s stock worth $41,924,000 after buying an additional 51,137 shares during the period. Finally, Quantinno Capital Management LP increased its position in Franklin Electric by 12.1% in the 4th quarter. Quantinno Capital Management LP now owns 4,184 shares of the industrial products company’s stock worth $408,000 after buying an additional 450 shares during the period. 79.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

FELE has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on Franklin Electric from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric has an average rating of “Hold” and an average price target of $107.00.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $94.63 on Monday. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94. The firm has a market capitalization of $4.21 billion, a PE ratio of 24.45, a PEG ratio of 1.91 and a beta of 1.07. The business’s 50 day moving average is $94.71 and its 200-day moving average is $91.98. 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 (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating 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 firm had revenue of $587.43 million for the quarter, compared to analysts’ expectations of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. Sell-side analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric announced that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that authorizes the company to repurchase 1,200,000 outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Franklin Electric Announces Dividend

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

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.