Strs Ohio Makes New $1.21 Million Investment in Franklin Electric Co., Inc. $FELE

Key Points

• Strs Ohio has acquired a new stake of 12,900 shares in Franklin Electric Co., Inc., valued at approximately $1,211,000 during the first quarter.
• Franklin Electric recently reported $1.31 earnings per share for the last quarter, surpassing analyst expectations and set its FY 2025 guidance at 3.950-4.250 EPS.
• The company declared a quarterly dividend of $0.265, reflecting an annualized rate of $1.06 and a dividend yield of 1.1%, with a payout ratio of 27.39%.

Strs Ohio bought a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,900 shares of the industrial products company's stock, valued at approximately $1,211,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Humankind Investments LLC lifted its stake in Franklin Electric by 3.4% in the first quarter. Humankind Investments LLC now owns 3,918 shares of the industrial products company's stock worth $368,000 after acquiring an additional 127 shares during the period. Brucke Financial Inc. lifted its stake in Franklin Electric by 4.5% in the first quarter. Brucke Financial Inc. now owns 3,202 shares of the industrial products company's stock worth $301,000 after acquiring an additional 137 shares during the period. Covestor Ltd lifted its stake in Franklin Electric by 27.4% in the first 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. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 182 shares during the period. Finally, Haven Private LLC lifted its stake in Franklin Electric by 4.0% in the first quarter. Haven Private LLC now owns 5,006 shares of the industrial products company's stock worth $470,000 after acquiring an additional 192 shares during the period. Hedge funds and other institutional investors own 79.98% of the company's stock.

Insider Activity

In other 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 owned 8,171 shares of the company's stock, valued at $801,003.13. The trade was a 55.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Down 0.9%

Shares of FELE traded down $0.84 during trading hours on Friday, hitting $95.33. The company had a trading volume of 938,522 shares, compared to its average volume of 263,845. The firm has a fifty day moving average price of $94.93 and a 200-day moving average price of $91.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.77 and a current ratio of 1.72. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.90 and a beta of 1.07. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $587.43 million during the quarter, compared to analyst estimates 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. On average, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

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

Franklin Electric Dividend Announcement

The business also recently declared 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 payout ratio is currently 27.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FELE shares. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. 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 research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Franklin Electric has an average rating of "Hold" and a consensus target price of $107.00.

Franklin Electric Company 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.