Amundi Lowers Position in Franklin Electric Co., Inc. $FELE

Amundi trimmed its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,039 shares of the industrial products company's stock after selling 7,503 shares during the quarter. Amundi owned approximately 0.56% of Franklin Electric worth $23,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. grew its position in Franklin Electric by 10.6% during the 1st 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. Wealth Enhancement Advisory Services LLC grew its position in 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 worth $343,000 after acquiring an additional 594 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Franklin Electric by 50.3% during the 1st 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 during the last quarter. GAMMA Investing LLC grew its position in Franklin Electric by 46.7% during the 1st 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 during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Franklin Electric by 168.5% during the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after acquiring an additional 182 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Franklin Electric Trading Down 2.3%

NASDAQ FELE traded down $2.23 on Friday, hitting $94.63. The company's stock had a trading volume of 141,977 shares, compared to its average volume of 191,546. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. The company's 50-day simple moving average is $94.71 and its 200 day simple moving average is $92.04. The firm has a market cap of $4.21 billion, a P/E ratio of 24.45, a PEG ratio of 1.95 and a beta of 1.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping 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 business had revenue of $587.43 million during the quarter, compared to analysts' expectations of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. Research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.265 dividend. 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 (DPR) is presently 27.39%.

Franklin Electric declared that its board has approved a share buyback plan on Friday, June 13th that permits the company to repurchase 1,200,000 shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total value of $983,829.08. Following the completion of the transaction, the insider owned 8,171 shares in the company, valued at $801,003.13. This trade represents a 55.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by insiders.

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.