Franklin Electric Co., Inc. $FELE Holdings Decreased by Connable Office Inc.

Connable Office Inc. reduced its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,583 shares of the industrial products company’s stock after selling 724 shares during the quarter. Connable Office Inc.’s holdings in Franklin Electric were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FELE. Wealth Enhancement Advisory Services LLC raised its stake in shares of 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 purchasing an additional 594 shares in the last quarter. Mutual Advisors LLC raised its position in Franklin Electric by 18.4% in the first quarter. Mutual Advisors LLC now owns 4,576 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 710 shares in the last quarter. Principal Financial Group Inc. raised its position in Franklin Electric by 2.3% in the first quarter. Principal Financial Group Inc. now owns 209,887 shares of the industrial products company’s stock worth $19,704,000 after acquiring an additional 4,675 shares in the last quarter. Fullcircle Wealth LLC bought a new stake in Franklin Electric in the first quarter worth about $204,000. Finally, EULAV Asset Management raised its position in Franklin Electric by 84.2% in the first quarter. EULAV Asset Management now owns 44,853 shares of the industrial products company’s stock worth $4,211,000 after acquiring an additional 20,509 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Price Performance

NASDAQ FELE opened at $93.15 on Tuesday. The stock’s 50-day moving average price is $95.92 and its two-hundred day moving average price is $92.08. 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 company has a market cap of $4.14 billion, a PE ratio of 30.34, a PEG ratio of 1.91 and a beta of 1.08. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

The firm 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. This represents a $1.06 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Franklin Electric’s payout ratio is 34.53%.

Insiders Place Their Bets

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric 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 transaction, the insider owned 8,171 shares of the company’s stock, valued at $801,003.13. The trade was a 55.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FELE shares. Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a research report on Wednesday, October 29th. Wall Street Zen cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Franklin Electric in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Franklin Electric has a consensus rating of “Hold” and an average price target of $112.00.

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.