Running Oak Capital LLC Increases Position in Franklin Electric Co., Inc. $FELE

Key Points

• Running Oak Capital LLC increased its stake in Franklin Electric Co., Inc. by 18.6% during Q2, now holding around 178,285 shares valued at approximately $15.99 million.
• Analysts have mixed ratings on Franklin Electric, with a consensus rating of "Hold" and a price target increase from $94.00 to $107.00 by Robert W. Baird.
• Franklin Electric announced a quarterly dividend of $0.265, equivalent to a 1.1% dividend yield, and a share repurchase program allowing the buyback of 1.2 million shares.

Running Oak Capital LLC increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 18.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 178,285 shares of the industrial products company's stock after acquiring an additional 28,012 shares during the quarter. Running Oak Capital LLC owned approximately 0.39% of Franklin Electric worth $15,999,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of FELE. Farther Finance Advisors LLC grew its position 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 valued at $28,000 after purchasing an additional 182 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Franklin Electric in the 1st quarter worth about $46,000. Covestor Ltd grew its holdings 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. USA Financial Formulas increased its stake 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 acquiring an additional 300 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Franklin Electric by 42.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 913 shares of the industrial products company's stock worth $86,000 after acquiring an additional 271 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on FELE. Weiss Ratings restated a "hold (c)" rating on shares of Franklin Electric in a report on Saturday, September 27th. Robert W. Baird lifted their price target 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. Finally, Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $107.00.

Franklin Electric Price Performance

FELE stock opened at $96.32 on Monday. The stock's 50 day moving average is $95.78 and its two-hundred day moving average is $91.44. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94. The company has a market capitalization of $4.28 billion, a PE ratio of 24.89, a P/E/G ratio of 1.94 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 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. The business had revenue of $587.43 million during the quarter, compared to the consensus estimate of $566.61 million. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. Analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

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

Franklin Electric declared that its board has approved a share repurchase program on Friday, June 13th that permits the company to buyback 1,200,000 outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Franklin Electric

In related news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total value of $983,829.08. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.72% of the company's stock.

Franklin Electric 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.

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