Franklin Electric Co., Inc. $FELE Position Boosted by Gamco Investors INC. ET AL

Key Points

• Gamco Investors increased its stake in Franklin Electric by 4.4% in the first quarter, while institutional investors overall continue to own a large majority of the stock.
• Insider selling has been notable, with two executives recently selling shares and 19,835 shares sold by insiders over the last 90 days.
• Franklin Electric beat quarterly earnings and revenue expectations, and analysts currently rate the stock Hold with an average price target of $106.

Gamco Investors INC. ET AL grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 256,624 shares of the industrial products company's stock after purchasing an additional 10,858 shares during the period. Gamco Investors INC. ET AL owned about 0.58% of Franklin Electric worth $23,653,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FELE. Quarry LP acquired a new stake in shares of Franklin Electric during the third quarter worth approximately $28,000. Aster Capital Management DIFC Ltd acquired a new position in Franklin Electric in the 4th quarter valued at approximately $35,000. 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 valued at $38,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC increased its stake in Franklin Electric by 213.1% in the 4th quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company's stock valued at $43,000 after buying an additional 309 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Franklin Electric in the 4th quarter worth approximately $48,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 8,547 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares in the company, valued at approximately $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Delancey W. Davis sold 1,900 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,835 shares of company stock worth $2,004,982 in the last 90 days. 2.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FELE shares. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Finally, DA Davidson reiterated a "neutral" rating and set a $100.00 price objective on shares of Franklin Electric in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $106.00.

Franklin Electric Stock Up 0.0%

Shares of Franklin Electric stock opened at $105.59 on Friday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.92 and a beta of 1.03. The stock has a 50-day simple moving average of $102.48 and a 200-day simple moving average of $100.00. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $111.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.06. The firm had revenue of $500.44 million for the quarter, compared to the consensus estimate of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The firm's revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. On average, equities research analysts expect that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. Franklin Electric's dividend payout ratio is 33.73%.

Franklin Electric Company 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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