Marks Group Wealth Management Inc Sells 10,382 Shares of Franklin Electric Co., Inc. $FELE

Key Points

• Marks Group Wealth Management cut its Franklin Electric stake by 11.7% in the fourth quarter, selling 10,382 shares and leaving it with 78,169 shares valued at about $7.47 million.
• Franklin Electric reported strong quarterly results, with EPS of $0.83 beating estimates of $0.77 and revenue of $500.44 million topping expectations; revenue also rose 9.9% year over year.
• The company declared a quarterly dividend of $0.28 per share, while insiders have also been selling stock and analysts currently hold an overall Hold rating with a $106 target price.

Marks Group Wealth Management Inc trimmed its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,169 shares of the industrial products company's stock after selling 10,382 shares during the quarter. Marks Group Wealth Management Inc owned 0.18% of Franklin Electric worth $7,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Royal Bank of Canada lifted its position in Franklin Electric by 81.6% in the first quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company's stock worth $375,000 after purchasing an additional 1,796 shares during the period. AQR Capital Management LLC lifted its position in Franklin Electric by 105.5% in the first quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company's stock worth $2,390,000 after purchasing an additional 13,075 shares during the period. NewEdge Advisors LLC lifted its position in Franklin Electric by 30.6% in the first quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company's stock worth $541,000 after purchasing an additional 1,349 shares during the period. United Services Automobile Association bought a new position in Franklin Electric in the first quarter worth $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Franklin Electric by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company's stock worth $12,877,000 after purchasing an additional 10,862 shares during the period. 79.98% of the stock is owned by institutional investors.

Franklin Electric Stock Up 1.6%

Shares of NASDAQ FELE opened at $100.09 on Tuesday. The stock has a market cap of $4.42 billion, a PE ratio of 30.15, a PEG ratio of 1.79 and a beta of 1.05. The business has a fifty day moving average of $98.56 and a two-hundred day moving average of $97.99. Franklin Electric Co., Inc. has a 52-week low of $84.31 and a 52-week high of $111.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.14 and a current ratio of 2.67.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.06. The company had revenue of $500.44 million during the quarter, compared to analysts' expectations of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The business's revenue was up 9.9% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, equities research analysts expect that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is presently 33.73%.

Insiders Place Their Bets

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the transaction, the insider directly owned 10,402 shares of the company's stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Grandon sold 4,988 shares of Franklin Electric stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $100.02, for a total value of $498,899.76. Following the transaction, the insider directly owned 7,509 shares of the company's stock, valued at approximately $751,050.18. The trade was a 39.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 11,288 shares of company stock valued at $1,121,222. Company insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $100.00 target price on shares of Franklin Electric in a research report on Wednesday, April 29th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $106.00.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.

Want to see what other hedge funds are holding FELE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.