Entropy Technologies LP Sells 2,901 Shares of Franklin Electric Co., Inc. $FELE

Key Points

• Entropy Technologies LP has reduced its holdings in Franklin Electric by 52.9%, selling 2,901 shares and retaining 2,588 shares valued at $243,000.
• Franklin Electric recently reported quarterly earnings with an EPS of $1.31, surpassing analyst estimates, and declared a $0.265 quarterly dividend to be paid on August 21st.
• Several hedge funds have significantly increased their positions in Franklin Electric, notably GAMMA Investing LLC, which raised its stake by 13,673.1% during the first quarter.

Entropy Technologies LP reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 52.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,588 shares of the industrial products company's stock after selling 2,901 shares during the quarter. Entropy Technologies LP's holdings in Franklin Electric were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mariner LLC increased its stake in Franklin Electric by 1.8% in the 4th quarter. Mariner LLC now owns 6,471 shares of the industrial products company's stock worth $631,000 after acquiring an additional 116 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Franklin Electric by 0.4% during the 4th quarter. Captrust Financial Advisors now owns 31,879 shares of the industrial products company's stock valued at $3,107,000 after purchasing an additional 137 shares during the last quarter. Brucke Financial Inc. increased its position in shares of Franklin Electric by 4.5% during the 1st quarter. Brucke Financial Inc. now owns 3,202 shares of the industrial products company's stock valued at $301,000 after purchasing an additional 137 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Franklin Electric by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 150 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Franklin Electric by 27.4% during the 1st 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 last quarter. 79.98% of the stock is currently owned by institutional investors.

Insider Activity at Franklin Electric

In related news, Director David M. Wathen sold 24,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $86.10, for a total transaction of $2,066,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Wathen sold 25,402 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total value of $2,164,758.44. Following the transaction, the director directly owned 49,000 shares of the company's stock, valued at approximately $4,175,780. This trade represents a 34.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,438 shares of company stock valued at $9,513,738 in the last 90 days. Corporate insiders own 2.72% of the company's stock.

Franklin Electric Stock Up 0.7%

Shares of NASDAQ:FELE traded up $0.6520 during trading on Tuesday, hitting $97.2220. The stock had a trading volume of 33,108 shares, compared to its average volume of 266,914. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.94. The company has a market capitalization of $4.33 billion, a PE ratio of 25.12, a PEG ratio of 1.93 and a beta of 1.08. The firm's fifty day moving average is $91.40 and its 200 day moving average is $92.61. The company has a quick ratio of 0.77, a current ratio of 1.72 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) 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. Analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric declared that its board has authorized a share buyback plan on Friday, June 13th that authorizes the company to buyback 1,200,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Franklin Electric Announces Dividend

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

Analyst Ratings Changes

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

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.