Select Equity Group L.P. Makes New Investment in Franklin Electric Co., Inc. $FELE

Select Equity Group L.P. purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 92,631 shares of the industrial products company's stock, valued at approximately $8,696,000. Select Equity Group L.P. owned about 0.20% of Franklin Electric as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FELE. Farther Finance Advisors LLC increased its position in shares of Franklin Electric by 168.5% during the 1st 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 during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Franklin Electric during the 1st quarter worth approximately $46,000. Public Employees Retirement System of Ohio bought a new position in shares of Franklin Electric during the 4th quarter worth approximately $52,000. Covestor Ltd boosted its stake 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 worth $69,000 after acquiring an additional 157 shares during the period. Finally, USA Financial Formulas boosted 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 worth $84,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Price Performance

NASDAQ FELE traded down $2.23 during midday trading on Friday, hitting $94.63. The company had a trading volume of 141,977 shares, compared to its average volume of 191,546. The company has a market capitalization of $4.21 billion, a PE ratio of 24.45, a P/E/G ratio of 1.95 and a beta of 1.07. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $94.71 and a 200-day moving average price of $92.04. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $587.43 million during the quarter, compared to analysts' expectations of $566.61 million. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

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

Franklin Electric Announces Dividend

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

Insider Activity at Franklin Electric

In other news, insider Jonathan M. Grandon sold 10,036 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the completion of the transaction, the insider owned 8,171 shares of the company's stock, valued at approximately $801,003.13. The trade was a 55.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen upgraded Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Robert W. Baird boosted their price target on Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.