Marks Group Wealth Management Inc Sells 10,382 Shares of Franklin Electric Co., Inc. $FELE

Marks Group Wealth Management Inc trimmed its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,169 shares of the industrial products company’s stock after selling 10,382 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Franklin Electric were worth $7,467,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cerity Partners LLC raised its holdings in shares of Franklin Electric by 33.4% in the fourth quarter. Cerity Partners LLC now owns 13,800 shares of the industrial products company’s stock valued at $1,318,000 after buying an additional 3,459 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Franklin Electric by 1.0% in the fourth quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 115 shares during the last quarter. Vise Technologies Inc. raised its holdings in shares of Franklin Electric by 2.3% in the fourth quarter. Vise Technologies Inc. now owns 7,525 shares of the industrial products company’s stock valued at $719,000 after buying an additional 166 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Franklin Electric by 6.0% in the fourth quarter. CIBC Asset Management Inc now owns 2,576 shares of the industrial products company’s stock valued at $246,000 after buying an additional 145 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Franklin Electric by 14.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 193,228 shares of the industrial products company’s stock valued at $18,459,000 after buying an additional 24,271 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FELE has been the subject of a number of research analyst reports. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. DA Davidson reiterated a “neutral” rating and issued a $100.00 price objective on shares of Franklin Electric in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric presently has an average rating of “Hold” and an average target price of $106.00.

Insider Activity

In other news, insider Delancey W. Davis sold 1,900 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the transaction, the insider directly owned 10,402 shares in the company, valued at approximately $1,040,200. The trade was a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Grandon sold 4,988 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $100.02, for a total value of $498,899.76. Following the transaction, the insider owned 7,509 shares of the company’s stock, valued at $751,050.18. The trade was a 39.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,288 shares of company stock valued at $1,121,222 over the last 90 days. Corporate insiders own 2.89% of the company’s stock.

Franklin Electric Price Performance

Shares of FELE stock opened at $100.09 on Tuesday. The stock has a 50-day moving average price of $98.56 and a 200 day moving average price of $97.99. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.79 and a beta of 1.05. Franklin Electric Co., Inc. has a 12 month low of $84.31 and a 12 month high of $111.53.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $500.44 million during the quarter, compared to analyst estimates of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Research analysts expect that Franklin Electric Co., Inc. will post 4.58 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, May 7th. Franklin Electric’s payout ratio is presently 33.73%.

About Franklin Electric

Franklin Electric Co, Inc is a world?leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.