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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in 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 buying 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 approximately $46,000. Public Employees Retirement System of Ohio bought a new position in Franklin Electric during the 4th quarter worth approximately $52,000. Covestor Ltd grew its holdings in Franklin Electric by 27.4% during the first quarter. Covestor Ltd now owns 731 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 157 shares during the period. Finally, USA Financial Formulas increased its stake in Franklin Electric by 50.0% in the first quarter. USA Financial Formulas now owns 900 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 79.98% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Franklin Electric

In related news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric 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 sale, the insider owned 8,171 shares of the company's stock, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.72% of the company's stock.

Franklin Electric Stock Up 0.0%

Shares of FELE stock opened at $97.61 on Tuesday. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.94. 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 firm has a fifty day moving average of $94.51 and a 200-day moving average of $92.19. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.97 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 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. The business 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. As a group, equities research analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

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

Franklin Electric declared that its Board of Directors has authorized a stock repurchase program on Friday, June 13th that allows the company to buyback 1,200,000 shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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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