Deprince Race & Zollo Inc. acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 43,117 shares of the industrial products company's stock, valued at approximately $3,974,000. Deprince Race & Zollo Inc. owned about 0.10% of Franklin Electric as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in shares of Franklin Electric by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company's stock valued at $833,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC increased its stake in Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock worth $38,000 after buying an additional 101 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Franklin Electric by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,885 shares of the industrial products company's stock valued at $787,000 after buying an additional 111 shares in the last quarter. LPL Financial LLC lifted its holdings in Franklin Electric by 1.0% during the 4th quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company's stock valued at $1,161,000 after buying an additional 115 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company's stock valued at $55,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 79.98% of the company's stock.
Insider Activity at Franklin Electric
In other news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the transaction, the insider directly owned 7,509 shares in the company, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total transaction of $190,000.00. Following the transaction, the insider directly owned 10,402 shares in the company, valued at approximately $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 19,835 shares of company stock valued at $2,004,982 in the last ninety days. Corporate insiders own 2.89% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, DA Davidson reiterated a "neutral" rating and issued a $100.00 price target on shares of Franklin Electric in a report on Tuesday, June 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $106.00.
Read Our Latest Report on FELE
Franklin Electric Stock Performance
FELE stock opened at $105.14 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14. The business has a 50-day moving average price of $101.09 and a 200 day moving average price of $99.27. The company has a market capitalization of $4.65 billion, a P/E ratio of 31.67, a PEG ratio of 1.91 and a beta of 1.03. Franklin Electric Co., Inc. has a 1-year low of $88.63 and a 1-year high of $111.53.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.06. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. The company had revenue of $500.44 million during the quarter, compared to analyst estimates of $479.21 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.58 EPS for the current fiscal year.
Franklin Electric Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 7th. Franklin Electric's dividend payout ratio is presently 33.73%.
Franklin Electric Profile
(
Free Report)
Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.
Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.
See Also
Want to see what other hedge funds are holding FELE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report).
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