Fenimore Asset Management Inc Grows Position in Franklin Electric Co., Inc. $FELE

Fenimore Asset Management Inc grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,653 shares of the industrial products company’s stock after buying an additional 341 shares during the period. Fenimore Asset Management Inc’s holdings in Franklin Electric were worth $12,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FELE. Marks Group Wealth Management Inc grew its stake in Franklin Electric by 13.0% during the 2nd quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock valued at $8,331,000 after acquiring an additional 10,692 shares in the last quarter. Running Oak Capital LLC raised its position in Franklin Electric by 18.6% in the second quarter. Running Oak Capital LLC now owns 178,285 shares of the industrial products company’s stock valued at $15,999,000 after purchasing an additional 28,012 shares during the period. State of Alaska Department of Revenue raised its position in Franklin Electric by 7.2% in the second quarter. State of Alaska Department of Revenue now owns 23,345 shares of the industrial products company’s stock valued at $2,094,000 after purchasing an additional 1,574 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in Franklin Electric during the 2nd quarter worth about $353,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Franklin Electric by 57.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,719 shares of the industrial products company’s stock valued at $10,385,000 after acquiring an additional 42,357 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Price Performance

Franklin Electric stock opened at $96.32 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77. The business has a 50 day simple moving average of $95.78 and a 200-day simple moving average of $91.44. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.94. The stock has a market capitalization of $4.28 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The firm had revenue of $587.43 million for the quarter, compared to analyst estimates 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. Equities analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric announced that its board has authorized a share buyback plan on Friday, June 13th that allows the company to repurchase 1,200,000 outstanding shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were given a $0.265 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.06 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is presently 27.39%.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total value of $983,829.08. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Saturday, September 27th. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Robert W. Baird increased 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. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.00.

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.