Intech Investment Management LLC Has $3.41 Million Stock Position in Franklin Electric Co., Inc. $FELE

Key Points

• Intech Investment Management LLC increased its stake in Franklin Electric by 11.4%, acquiring an additional 3,717 shares, bringing its total ownership to approximately 0.08% valued at $3.4 million.
• Several large investors also adjusted their holdings in Franklin Electric, with Farther Finance Advisors LLC increasing its position by 168.5% during the same period.
• Franklin Electric declared a quarterly dividend of $0.265 per share, representing an annualized yield of 1.1%, and initiated a stock buyback plan for up to 1,200,000 shares.

Intech Investment Management LLC grew its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 11.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,294 shares of the industrial products company's stock after buying an additional 3,717 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Franklin Electric worth $3,407,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. boosted its position in shares of Franklin Electric by 10.6% during the first quarter. QRG Capital Management Inc. now owns 5,815 shares of the industrial products company's stock worth $546,000 after purchasing an additional 558 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in 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 valued at $343,000 after acquiring an additional 594 shares during the period. Janney Montgomery Scott LLC increased its stake in Franklin Electric by 50.3% in the first quarter. Janney Montgomery Scott LLC now owns 4,928 shares of the industrial products company's stock valued at $463,000 after purchasing an additional 1,650 shares in the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 653 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Franklin Electric by 168.5% in the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

Insider Activity

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.72% of the company's stock.

Franklin Electric Stock Performance

FELE traded up $1.76 during trading on Thursday, hitting $96.17. 194,462 shares of the stock were exchanged, compared to its average volume of 192,401. The firm has a market capitalization of $4.28 billion, a P/E ratio of 24.85, a PEG ratio of 1.90 and a beta of 1.07. The company has a quick ratio of 0.77, a current ratio of 1.72 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $94.93 and a two-hundred day moving average price of $91.93. Franklin Electric Co., Inc. has a 1-year low of $78.87 and a 1-year high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping 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 company 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 predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric announced that its board has authorized a share repurchase plan on Friday, June 13th that authorizes the company to buyback 1,200,000 outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Franklin Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.