Wealth Enhancement Advisory Services LLC Buys 524 Shares of Franklin Electric Co., Inc. $FELE

Wealth Enhancement Advisory Services LLC increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,177 shares of the industrial products company’s stock after buying an additional 524 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Franklin Electric were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FELE. Farther Finance Advisors LLC increased its stake in Franklin Electric by 168.5% in the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 182 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Franklin Electric in the first quarter worth $46,000. Covestor Ltd increased its stake in Franklin Electric by 27.4% in the first quarter. Covestor Ltd now owns 731 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 157 shares during the period. USA Financial Formulas increased its stake in Franklin Electric by 50.0% in the first quarter. USA Financial Formulas now owns 900 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 300 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Franklin Electric by 42.2% in the first quarter. Smartleaf Asset Management LLC now owns 913 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 271 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Jonathan M. Grandon sold 10,036 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 8,171 shares of the company’s stock, valued at $801,003.13. This trade represents a 55.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Price Performance

FELE opened at $93.79 on Wednesday. The business’s 50-day moving average is $95.77 and its two-hundred day moving average is $91.45. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77. The firm has a market capitalization of $4.17 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%.The company 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. Research 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. Stockholders 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 payout ratio is presently 27.39%.

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

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.