Gabelli Funds LLC Has $18.46 Million Stock Position in Franklin Electric Co., Inc. $FELE

Key Points

• Gabelli Funds LLC has reduced its stake in Franklin Electric Co., Inc. by 1.5%, bringing its total shares owned to 196,600, valued at approximately $18.5 million.
• Numerous large investors have made significant changes to their holdings in Franklin Electric during the 1st quarter, with QRG Capital Management increasing its stake by 10.6% and Wealth Enhancement Advisory Services growing its stake by 19.4%.
• Franklin Electric reported earnings per share of $1.31 for the last quarter, exceeding expectations, alongside a new quarterly dividend of $0.265, reflecting a 1.1% yield.

Gabelli Funds LLC reduced its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 1.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,600 shares of the industrial products company's stock after selling 2,900 shares during the quarter. Gabelli Funds LLC owned approximately 0.43% of Franklin Electric worth $18,457,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mariner LLC grew its stake in shares of Franklin Electric by 1.8% during 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 in the last quarter. Humankind Investments LLC grew its stake in shares of Franklin Electric by 3.4% during the 1st quarter. Humankind Investments LLC now owns 3,918 shares of the industrial products company's stock worth $368,000 after acquiring an additional 127 shares in the last quarter. Captrust Financial Advisors grew its stake 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 worth $3,107,000 after acquiring an additional 137 shares in the last quarter. Brucke Financial Inc. grew its stake 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 worth $301,000 after acquiring an additional 137 shares in the last quarter. Finally, Covestor Ltd grew its stake 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 worth $69,000 after acquiring an additional 157 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the completion of the sale, the insider owned 8,171 shares of the company's stock, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Wathen sold 25,000 shares of Franklin Electric stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $85.25, for a total value of $2,131,250.00. Following the sale, the director directly owned 24,000 shares of the company's stock, valued at $2,046,000. This represents a 51.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,438 shares of company stock valued at $7,346,238 in the last quarter. 2.72% of the stock is currently owned by insiders.

Franklin Electric Stock Down 1.1%

Shares of NASDAQ:FELE traded down $1.06 during midday trading on Friday, hitting $97.86. The stock had a trading volume of 163,661 shares, compared to its average volume of 231,282. The business's 50-day simple moving average is $93.57 and its 200-day simple moving average is $92.57. 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 cap of $4.35 billion, a P/E ratio of 25.29, a PEG ratio of 1.99 and a beta of 1.08. 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 quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $587.43 million during the quarter, compared to the consensus estimate of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. On average, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric announced that its board has authorized a share buyback program on Friday, June 13th that permits the company to buyback 1,200,000 shares. This buyback authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.06 annualized dividend and a yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is currently 27.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Robert W. Baird raised their target price on shares of Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $107.00.

Franklin Electric Company 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.