Franklin Electric Co., Inc. $FELE Stock Holdings Lowered by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,043 shares of the industrial products company's stock after selling 11,329 shares during the quarter. Tributary Capital Management LLC owned 0.36% of Franklin Electric worth $14,721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Franklin Electric by 19.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,653 shares of the industrial products company's stock worth $343,000 after purchasing an additional 594 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Franklin Electric by 50.3% during the first quarter. Janney Montgomery Scott LLC now owns 4,928 shares of the industrial products company's stock valued at $463,000 after acquiring an additional 1,650 shares during the period. GAMMA Investing LLC raised its holdings in shares of Franklin Electric by 46.7% during the first quarter. GAMMA Investing LLC now owns 2,051 shares of the industrial products company's stock valued at $193,000 after acquiring an additional 653 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Franklin Electric by 168.5% during the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 182 shares during the period. Finally, Select Equity Group L.P. acquired a new stake in shares of Franklin Electric during the first quarter valued at approximately $8,696,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $98.26 on Thursday. The firm has a fifty day simple moving average of $96.03 and a 200-day simple moving average of $91.52. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. 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 $4.37 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.98 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its earnings results 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 firm had revenue of $587.43 million during 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. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid 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 is currently 27.39%.

Insider Activity

In other news, insider Jonathan M. Grandon sold 10,036 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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 represents a 55.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

FELE has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Franklin Electric in a report on Tuesday, October 14th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Franklin Electric has a consensus rating of "Hold" and an average price target of $107.00.

Franklin Electric 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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