Cwm LLC Purchases 674 Shares of Franklin Electric Co., Inc. $FELE

Cwm LLC raised its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 57.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,849 shares of the industrial products company’s stock after acquiring an additional 674 shares during the quarter. Cwm LLC’s holdings in Franklin Electric were worth $166,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FELE. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Franklin Electric by 19.4% during the 1st 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 in the last quarter. Janney Montgomery Scott LLC boosted its stake 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 worth $463,000 after acquiring an additional 1,650 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 worth $193,000 after acquiring an additional 653 shares in the last quarter. Select Equity Group L.P. bought a new stake in Franklin Electric during the first quarter worth about $8,696,000. Finally, Marks Group Wealth Management Inc boosted its stake in Franklin Electric by 13.0% during the second quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock worth $8,331,000 after acquiring an additional 10,692 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FELE. Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Electric in a research report on Tuesday, October 14th. Robert W. Baird set a $112.00 target price on Franklin Electric in a report on Wednesday. Finally, Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $112.00.

Insiders Place Their Bets

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 transaction of $983,829.08. Following the transaction, the insider 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Stock Performance

FELE stock opened at $95.28 on Thursday. The stock has a market capitalization of $4.24 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94. The company has a current ratio of 2.54, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $96.13 and its 200 day simple moving average is $91.92.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.01. The firm had revenue of $581.71 million for the quarter, compared to the consensus estimate of $563.18 million. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

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