Tributary Capital Management LLC Raises Position in Franklin Electric Co., Inc. $FELE

Tributary Capital Management LLC increased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 90.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 312,684 shares of the industrial products company’s stock after buying an additional 148,641 shares during the quarter. Tributary Capital Management LLC owned about 0.70% of Franklin Electric worth $29,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FELE. Intech Investment Management LLC increased its position in shares of Franklin Electric by 11.0% in the second quarter. Intech Investment Management LLC now owns 40,280 shares of the industrial products company’s stock worth $3,615,000 after acquiring an additional 3,986 shares in the last quarter. Marks Group Wealth Management Inc lifted its holdings in shares of 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. Entropy Technologies LP boosted its position in Franklin Electric by 220.2% during the 2nd quarter. Entropy Technologies LP now owns 8,288 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 5,700 shares during the period. Moody National Bank Trust Division acquired a new stake in Franklin Electric in the 3rd quarter valued at $1,081,000. Finally, First Merchants Corp raised its position in Franklin Electric by 1.2% in the second quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock valued at $22,551,000 after purchasing an additional 2,881 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Robert W. Baird set a $112.00 price target on Franklin Electric in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.00.

Franklin Electric Trading Down 1.8%

Shares of NASDAQ:FELE opened at $97.98 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $95.54 and its 200 day moving average price is $94.92. The company has a market cap of $4.36 billion, a PE ratio of 31.92, a P/E/G ratio of 1.76 and a beta of 1.08. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $108.08.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.29 by $0.01. The company had revenue of $581.71 million for the quarter, compared to analyst estimates of $563.18 million. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. Franklin Electric’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.06 annualized dividend and a yield of 1.1%. Franklin Electric’s payout ratio is presently 34.53%.

Franklin Electric Company Profile

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.