Jones Financial Companies Lllp Makes New Investment in Franklin Electric Co., Inc. $FELE

Key Points

• Jones Financial Companies Lllp has made a new investment of $10.01 million in Franklin Electric Co., Inc., purchasing approximately 106,577 shares during the first quarter, representing 0.23% of the company's total shares.
• Several institutional investors, including Balyasny Asset Management and Deutsche Bank AG, have increased their holdings in Franklin Electric, with institutional ownership now at 79.98%.
• Franklin Electric recently reported quarterly earnings of $1.31 per share, beating estimates and showing a strong revenue of $587.43 million for the quarter.

Jones Financial Companies Lllp acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 106,577 shares of the industrial products company's stock, valued at approximately $10,005,000. Jones Financial Companies Lllp owned 0.23% of Franklin Electric as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in 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 valued at $28,000 after buying an additional 182 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Franklin Electric in the 1st quarter valued at approximately $46,000. Public Employees Retirement System of Ohio acquired a new position in Franklin Electric in the 4th quarter valued at approximately $52,000. Covestor Ltd increased its stake in Franklin Electric by 27.4% in the 1st quarter. Covestor Ltd now owns 731 shares of the industrial products company's stock valued at $69,000 after buying an additional 157 shares during the period. Finally, USA Financial Formulas increased its stake in Franklin Electric by 50.0% in the 1st quarter. USA Financial Formulas now owns 900 shares of the industrial products company's stock valued at $84,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Insider Transactions at Franklin Electric

In related news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total value of $983,829.08. Following the transaction, the insider directly owned 8,171 shares in the company, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.72% of the company's stock.

Franklin Electric Stock Down 2.3%

Shares of FELE traded down $2.23 during mid-day trading on Friday, hitting $94.63. 141,977 shares of the company's stock were exchanged, compared to its average volume of 184,057. The firm has a fifty day moving average of $94.71 and a two-hundred day moving average of $91.98. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.94. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.91 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.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. 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 year.

Franklin Electric declared that its board has initiated a share repurchase plan on Friday, June 13th that permits the company to repurchase 1,200,000 outstanding shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors 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 yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is presently 27.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FELE. Robert W. Baird increased their price target on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric presently has a consensus 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.