Fort Washington Investment Advisors Inc. OH Has $22.36 Million Stock Position in Franklin Electric Co., Inc. $FELE

Key Points

• Fort Washington Investment Advisors cut its Franklin Electric stake by 15% in the first quarter, but still held 242,542 shares valued at about $22.36 million as of the latest filing.
• Insider selling was notable in recent months, including sales by Delancey W. Davis and Jonathan M. Grandon; insiders sold a total of 19,835 shares worth roughly $2.0 million over the last 90 days.
• Franklin Electric posted strong quarterly results, beating earnings and revenue estimates, while analysts currently rate the stock a Hold with a consensus price target of $106.

Fort Washington Investment Advisors Inc. OH reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 242,542 shares of the industrial products company's stock after selling 42,876 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.55% of Franklin Electric worth $22,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its position in Franklin Electric by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company's stock worth $833,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock worth $38,000 after purchasing an additional 101 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake 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 purchasing an additional 111 shares during the period. LPL Financial LLC grew its holdings in Franklin Electric by 1.0% in 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 during the last quarter. Finally, Osaic Holdings Inc. increased 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 worth $55,000 after buying an additional 119 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total value of $190,000.00. Following the completion of the transaction, the insider owned 10,402 shares of the company's stock, valued at $1,040,200. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Grandon sold 8,547 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total transaction of $883,759.80. Following the transaction, the insider owned 7,509 shares of the company's stock, valued at approximately $776,430.60. This represents a 53.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,835 shares of company stock valued at $2,004,982 over the last ninety days. 2.89% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FELE shares. DA Davidson reissued a "neutral" rating and issued a $100.00 price objective on shares of Franklin Electric in a research report on Tuesday, June 16th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Franklin Electric in a report on Tuesday, June 9th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.00.

Franklin Electric Stock Performance

FELE opened at $107.89 on Monday. The stock has a market cap of $4.77 billion, a PE ratio of 32.50, a P/E/G ratio of 1.96 and a beta of 1.05. The company has a current ratio of 2.67, a quick ratio of 1.14 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 1 year low of $88.63 and a 1 year high of $111.53. The stock's 50 day simple moving average is $100.68 and its 200-day simple moving average is $98.97.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The firm had revenue of $500.44 million during the quarter, compared to analysts' expectations of $479.21 million. During the same period last year, the business earned $0.67 earnings per share. Franklin Electric's quarterly revenue 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. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.58 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, May 7th. Franklin Electric's dividend payout ratio (DPR) is presently 33.73%.

Franklin Electric Profile

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.

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