Ieq Capital LLC Invests $242,000 in Franklin Electric Co., Inc. $FELE

Key Points

• Ieq Capital LLC has invested approximately $242,000 in Franklin Electric Co., acquiring 2,573 shares in the first quarter of the year.
• Franklin Electric's stock has been subject to analyst upgrades, with Robert W. Baird raising the target price from $94.00 to $107.00, maintaining a "neutral" rating.
• The company recently disclosed a quarterly dividend of $0.265, reflecting an annualized basis of $1.06 and a yield of 1.1%, with a payout ratio of 27.39%.

Ieq Capital LLC purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,573 shares of the industrial products company's stock, valued at approximately $242,000.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Franklin Electric by 168.5% in the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after buying an additional 182 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Franklin Electric during the 1st quarter valued at about $46,000. Public Employees Retirement System of Ohio bought a new position in shares of Franklin Electric during the 4th quarter valued at about $52,000. Covestor Ltd boosted its holdings 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 valued at $69,000 after purchasing an additional 157 shares during the last quarter. Finally, USA Financial Formulas boosted its holdings in shares of Franklin Electric by 50.0% during the 1st quarter. USA Financial Formulas now owns 900 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.

Franklin Electric Trading Down 2.3%

Shares of NASDAQ:FELE traded down $2.23 during trading on Friday, reaching $94.63. The company's stock had a trading volume of 141,977 shares, compared to its average volume of 191,546. 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 12 month low of $78.87 and a 12 month high of $111.94. The firm's 50 day simple moving average is $94.71 and its two-hundred day simple moving average is $92.11. The stock has a market capitalization of $4.21 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. The firm 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, research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS 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 repurchase 1,200,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 7th. Franklin Electric's dividend payout ratio is 27.39%.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 10,036 shares of the 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 directly owned 8,171 shares of the company's stock, valued at $801,003.13. This represents a 55.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on FELE shares. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird increased their price objective 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. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric currently has a consensus rating of "Hold" and a consensus price target 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.