Dynamic Technology Lab Private Ltd Takes Position in Franklin Electric Co., Inc. $FELE

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $765,000 in Franklin Electric Co., acquiring 8,148 shares during the first quarter of the year.
• Franklin Electric has received a buy rating from Wall Street Zen and an increased price target of $107.00 by Robert W. Baird as analysts show positive sentiment about the stock.
• The company declared a quarterly dividend of $0.265 per share, representing an annual yield of 1.1%, and announced a share buyback program allowing the repurchase of 1.2 million shares.

Dynamic Technology Lab Private Ltd purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,148 shares of the industrial products company's stock, valued at approximately $765,000.

Several other institutional investors have also modified their holdings of the business. Humankind Investments LLC grew its stake in shares of Franklin Electric by 3.4% in the first quarter. Humankind Investments LLC now owns 3,918 shares of the industrial products company's stock worth $368,000 after acquiring an additional 127 shares in the last quarter. Brucke Financial Inc. grew its stake in shares of Franklin Electric by 4.5% during the first quarter. Brucke Financial Inc. now owns 3,202 shares of the industrial products company's stock worth $301,000 after purchasing an additional 137 shares in the last quarter. Covestor Ltd grew its stake in shares of Franklin Electric by 27.4% during the first quarter. Covestor Ltd now owns 731 shares of the industrial products company's stock worth $69,000 after purchasing an additional 157 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Franklin Electric by 168.5% during the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after purchasing an additional 182 shares in the last quarter. Finally, Haven Private LLC grew its stake in shares of Franklin Electric by 4.0% during the first quarter. Haven Private LLC now owns 5,006 shares of the industrial products company's stock worth $470,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 10,036 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were 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 of the company's stock, valued at $801,003.13. The trade was a 55.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on FELE shares. Robert W. Baird boosted their target price on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Franklin Electric presently has an average rating of "Hold" and an average target price of $107.00.

Franklin Electric Stock Performance

FELE traded down $2.23 on Friday, reaching $94.63. The company had a trading volume of 141,977 shares, compared to its average volume of 184,057. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The stock has a market capitalization of $4.21 billion, a PE ratio of 24.45, a P/E/G ratio of 1.91 and a beta of 1.07. The company has a quick ratio of 0.77, a current ratio of 1.72 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $94.71 and a 200-day moving average price of $91.98.

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, beating analysts' consensus estimates of $1.28 by $0.03. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. The firm 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. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric announced that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that authorizes the company to repurchase 1,200,000 shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Franklin Electric Dividend Announcement

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

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.