Franklin Electric Co., Inc. $FELE Shares Purchased by Marks Group Wealth Management Inc

Key Points

• Marks Group Wealth Management Inc increased its stake in Franklin Electric Co., Inc. by 13.0% in Q2, owning approximately $8.33 million worth of shares after adding 10,692 shares.
• Insider Jonathan M. Grandon sold 10,036 shares at an average price of $98.03, decreasing his stake in the company by 55.12%.
• Analysts have issued mixed ratings for Franklin Electric, with target prices ranging from $94 to $107, and a consensus rating of "Hold" as well as a recent upgrade to "Buy" by Wall Street Zen.

Marks Group Wealth Management Inc boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 13.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,837 shares of the industrial products company's stock after purchasing an additional 10,692 shares during the quarter. Marks Group Wealth Management Inc owned about 0.20% of Franklin Electric worth $8,331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in Franklin Electric by 0.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,045,534 shares of the industrial products company's stock valued at $194,551,000 after purchasing an additional 11,715 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Franklin Electric by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company's stock valued at $78,295,000 after purchasing an additional 22,303 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Franklin Electric by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 511,965 shares of the industrial products company's stock valued at $48,063,000 after purchasing an additional 8,190 shares in the last quarter. Nuveen LLC acquired a new position in Franklin Electric in the first quarter valued at approximately $41,837,000. Finally, Principal Financial Group Inc. grew its position in shares of Franklin Electric by 2.3% during the first quarter. Principal Financial Group Inc. now owns 209,887 shares of the industrial products company's stock worth $19,704,000 after acquiring an additional 4,675 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction 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 completion of the transaction, the insider owned 8,171 shares in the company, valued at $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Franklin Electric in a research report on Saturday, September 27th. Robert W. Baird raised their target price on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric presently has a consensus rating of "Hold" and an average target price of $107.00.

Franklin Electric Trading Up 0.0%

NASDAQ:FELE opened at $96.32 on Monday. 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 $4.28 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.94 and a beta of 1.08. The stock has a fifty day moving average price of $95.78 and a two-hundred day moving average price of $91.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.77 and a current ratio of 1.72.

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 return on equity of 14.05% and a net margin of 8.71%.The business 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, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric declared that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that permits the company to repurchase 1,200,000 shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a $0.265 dividend. 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 currently 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.

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