Vident Advisory LLC Makes New Investment in Franklin Electric Co., Inc. $FELE

Key Points

• Vident Advisory LLC has made a new investment in Franklin Electric Co., Inc., acquiring 3,784 shares valued at approximately $355,000 during the first quarter.
• Franklin Electric reported an EPS of $1.31 for the last quarter, exceeding expectations, and set its FY 2025 guidance between $3.950 and $4.250 EPS.
• The company recently declared a quarterly dividend of $0.265 per share, with a payout ratio of 27.39%, alongside a stock repurchase plan for 1,200,000 shares, indicating management's belief in the stock's undervaluation.

Vident Advisory LLC acquired a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,784 shares of the industrial products company's stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FELE. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 182 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Franklin Electric in the first quarter valued at $46,000. Public Employees Retirement System of Ohio bought a new stake in shares of Franklin Electric in the fourth quarter valued at $52,000. Covestor Ltd raised its stake in shares of Franklin Electric by 27.4% in the first 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 raised its stake in shares of Franklin Electric by 50.0% in the first 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. Hedge funds and other institutional investors own 79.98% of the company's stock.

Franklin Electric Price Performance

Franklin Electric stock opened at $97.61 on Tuesday. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The business has a 50-day simple moving average of $94.51 and a 200 day simple moving average of $92.19. The company has a quick ratio of 0.77, a current ratio of 1.72 and a debt-to-equity ratio of 0.01. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.97 and a beta of 1.07.

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

Franklin Electric Announces Dividend

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

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, insider Jonathan M. Grandon sold 10,036 shares of the business's stock in a transaction dated 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 directly owned 8,171 shares in the company, valued at $801,003.13. The trade was a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is currently owned by insiders.

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.

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