DekaBank Deutsche Girozentrale Decreases Holdings in Franklin Electric Co., Inc. $FELE

DekaBank Deutsche Girozentrale trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 101,687 shares of the industrial products company’s stock after selling 403 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Franklin Electric were worth $9,072,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mutual Advisors LLC boosted its position in shares of Franklin Electric by 8.3% in the 2nd quarter. Mutual Advisors LLC now owns 4,958 shares of the industrial products company’s stock worth $461,000 after buying an additional 382 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Franklin Electric by 34.9% in the second quarter. Vest Financial LLC now owns 42,930 shares of the industrial products company’s stock valued at $3,853,000 after purchasing an additional 11,109 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Franklin Electric by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,075,516 shares of the industrial products company’s stock valued at $190,480,000 after purchasing an additional 29,982 shares in the last quarter. CWM LLC lifted its holdings in shares of Franklin Electric by 57.4% in the second quarter. CWM LLC now owns 1,849 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 674 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Franklin Electric by 18.5% in the second quarter. Inspire Investing LLC now owns 4,421 shares of the industrial products company’s stock valued at $397,000 after purchasing an additional 691 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FELE has been the topic of a number of recent research reports. Robert W. Baird upped their target price 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 report on Saturday, August 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Franklin Electric in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.00.

Insiders Place Their Bets

In other news, insider Jonathan M. Grandon sold 10,036 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total transaction of $983,829.08. Following the transaction, the insider directly owned 8,171 shares in the company, valued at $801,003.13. This represents a 55.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.72% of the company’s stock.

Franklin Electric Stock Performance

Shares of FELE opened at $99.27 on Friday. 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 company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.97 and a beta of 1.08. The company’s 50 day simple moving average is $96.09 and its 200 day simple moving average is $91.62. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%.The company had revenue of $587.43 million for the quarter, compared to analyst estimates of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

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. The ex-dividend date was Thursday, August 7th. This represents a $1.06 annualized dividend and a yield of 1.1%. Franklin Electric’s dividend payout ratio is 27.39%.

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.