AlphaQuest LLC Buys 3,319 Shares of Franklin Electric Co., Inc. $FELE

Key Points

• AlphaQuest LLC increased its stake in Franklin Electric by 3,998.8% during the 1st quarter, owning a total of 3,402 shares valued at approximately $319,000.
• Franklin Electric reported earnings per share (EPS) of $1.31 for the latest quarter, exceeding analysts' expectations of $1.28, with revenue also surpassing estimates at $587.43 million.
• The company announced a share repurchase plan to buy back 1,200,000 shares, indicating that the board believes the stock is undervalued.

AlphaQuest LLC increased its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 3,998.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,402 shares of the industrial products company's stock after purchasing an additional 3,319 shares during the quarter. AlphaQuest LLC's holdings in Franklin Electric were worth $319,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mariner LLC grew its stake in Franklin Electric by 1.8% during the 4th quarter. Mariner LLC now owns 6,471 shares of the industrial products company's stock worth $631,000 after buying an additional 116 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Franklin Electric by 168.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,809 shares of the industrial products company's stock valued at $274,000 after buying an additional 1,763 shares during the period. Stifel Financial Corp raised its holdings in shares of Franklin Electric by 1.3% in the 4th quarter. Stifel Financial Corp now owns 16,922 shares of the industrial products company's stock worth $1,649,000 after purchasing an additional 212 shares during the period. Hsbc Holdings PLC lifted its position in Franklin Electric by 2.4% during the fourth quarter. Hsbc Holdings PLC now owns 7,887 shares of the industrial products company's stock valued at $768,000 after buying an additional 186 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in Franklin Electric by 137.9% in the 4th quarter. Susquehanna International Group LLP now owns 23,810 shares of the industrial products company's stock worth $2,320,000 after acquiring an additional 13,801 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FELE has been the subject of several recent research reports. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird upped their price target on shares of Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $107.00.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is owned by insiders.

Franklin Electric Price Performance

Shares of NASDAQ FELE traded down $0.09 during trading on Wednesday, reaching $96.53. The company had a trading volume of 37,565 shares, compared to its average volume of 263,698. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.77 and a current ratio of 1.72. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The stock has a market cap of $4.29 billion, a PE ratio of 24.94, a PEG ratio of 1.97 and a beta of 1.07. The business's 50 day moving average price is $93.93 and its 200-day moving average price is $92.47.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. The company had revenue of $587.43 million for the quarter, compared to analysts' expectations of $566.61 million. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. Analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 7th. Franklin Electric's dividend payout ratio is presently 27.39%.

Franklin Electric declared that its board has initiated a share buyback program on Friday, June 13th that permits the company to buyback 1,200,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors 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.