Counterpoint Mutual Funds LLC Takes $353,000 Position in Franklin Electric Co., Inc. $FELE

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake of $353,000 in Franklin Electric Co., purchasing 3,938 shares in the second quarter.
• Franklin Electric reported earnings per share of $1.31, surpassing estimates, and is currently forecasting FY 2025 EPS between 3.950 and 4.250.
• The company has a new stock buyback plan authorized for the repurchase of 1,200,000 shares, indicating confidence in their stock's valuation.

Counterpoint Mutual Funds LLC purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,938 shares of the industrial products company's stock, valued at approximately $353,000.

A number of other large investors also recently modified their holdings of FELE. Farther Finance Advisors LLC lifted its stake in shares of Franklin Electric by 168.5% in the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Franklin Electric during the 1st quarter worth $46,000. Public Employees Retirement System of Ohio bought a new position in Franklin Electric during the 4th quarter worth $52,000. Covestor Ltd raised its position in Franklin Electric by 27.4% during the 1st quarter. Covestor Ltd now owns 731 shares of the industrial products company's stock worth $69,000 after purchasing an additional 157 shares during the last quarter. Finally, USA Financial Formulas raised its position in Franklin Electric by 50.0% during the 1st quarter. USA Financial Formulas now owns 900 shares of the industrial products company's stock worth $84,000 after purchasing an additional 300 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

FELE stock opened at $93.68 on Thursday. The stock has a 50-day moving average price of $95.28 and a 200-day moving average price of $91.77. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year 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 firm has a market cap of $4.17 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted 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 firm had revenue of $587.43 million during the quarter, compared to analyst estimates of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. As a group, equities research analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current 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. The ex-dividend date was Thursday, August 7th. This represents a $1.06 annualized dividend and a dividend yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is currently 27.39%.

Franklin Electric announced that its Board of Directors has approved a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on FELE. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird raised their target price on Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $107.00.

Insider Activity at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 8,171 shares in the company, valued at $801,003.13. This trade represents a 55.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.72% of the stock is currently owned by corporate 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.

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