KLP Kapitalforvaltning AS Acquires 600 Shares of Franklin Electric Co., Inc. $FELE

KLP Kapitalforvaltning AS raised its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,400 shares of the industrial products company’s stock after buying an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Franklin Electric were worth $1,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FELE. Farther Finance Advisors LLC lifted its position in Franklin Electric by 168.5% during the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock valued at $28,000 after buying an additional 182 shares during the period. GAMMA Investing LLC lifted its position in Franklin Electric by 46.7% during the first quarter. GAMMA Investing LLC now owns 2,051 shares of the industrial products company’s stock valued at $193,000 after buying an additional 653 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Franklin Electric by 19.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,653 shares of the industrial products company’s stock valued at $343,000 after buying an additional 594 shares during the period. Janney Montgomery Scott LLC lifted its position in Franklin Electric by 50.3% during the first quarter. Janney Montgomery Scott LLC now owns 4,928 shares of the industrial products company’s stock valued at $463,000 after buying an additional 1,650 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Franklin Electric by 10.6% in the first quarter. QRG Capital Management Inc. now owns 5,815 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on Franklin Electric from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Franklin Electric in a report on Tuesday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $107.00.

Franklin Electric Trading Up 2.0%

Franklin Electric stock opened at $95.81 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77. Franklin Electric Co., Inc. has a one year low of $78.87 and a one year high of $111.94. The stock has a market capitalization of $4.26 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.89 and a beta of 1.08. The business’s fifty day moving average is $95.73 and its 200 day moving average is $91.35.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 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 analysts’ expectations of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 27.39%.

Insider Transactions at Franklin Electric

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 transaction, the insider directly 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.72% of the company’s stock.

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.