Mutual of America Capital Management LLC Cuts Stock Position in Franklin Electric Co., Inc. $FELE

Mutual of America Capital Management LLC lowered its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,037 shares of the industrial products company’s stock after selling 685 shares during the period. Mutual of America Capital Management LLC’s holdings in Franklin Electric were worth $452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in Franklin Electric by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,075,516 shares of the industrial products company’s stock worth $190,480,000 after purchasing an additional 29,982 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Franklin Electric by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company’s stock worth $78,295,000 after purchasing an additional 22,303 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Franklin Electric by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 511,965 shares of the industrial products company’s stock worth $48,063,000 after purchasing an additional 8,190 shares during the last quarter. Nuveen LLC purchased a new position in Franklin Electric in the first quarter worth $41,837,000. Finally, First Merchants Corp boosted its position in Franklin Electric by 1.2% in the second quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock worth $22,551,000 after purchasing an additional 2,881 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

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

Franklin Electric Stock Down 3.3%

Shares of NASDAQ FELE opened at $95.26 on Wednesday. The business’s fifty day moving average price is $96.14 and its 200-day moving average price is $91.88. The stock has a market capitalization of $4.24 billion, a PE ratio of 24.62, a P/E/G ratio of 1.97 and a beta of 1.08. 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.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.01. The business had revenue of $581.71 million for the quarter, compared to analysts’ expectations of $563.18 million. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%.The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio is 27.39%.

Insider Transactions at Franklin Electric

In related news, insider Jonathan M. Grandon sold 10,036 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the sale, the insider owned 8,171 shares of the company’s stock, valued at approximately $801,003.13. This represents a 55.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.72% of the company’s stock.

About Franklin Electric

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.