Intech Investment Management LLC Increases Stock Holdings in Franklin Electric Co., Inc. $FELE

Intech Investment Management LLC raised its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,280 shares of the industrial products company’s stock after buying an additional 3,986 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Franklin Electric worth $3,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Select Equity Group L.P. bought a new position in Franklin Electric in the 1st quarter worth about $8,696,000. Marks Group Wealth Management Inc lifted its stake in shares of Franklin Electric by 13.0% in the 2nd quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock worth $8,331,000 after purchasing an additional 10,692 shares during the period. First Merchants Corp grew its position in shares of Franklin Electric by 1.2% during the 2nd quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock valued at $22,551,000 after acquiring an additional 2,881 shares during the period. Jones Financial Companies Lllp purchased a new stake in Franklin Electric in the first quarter worth about $10,005,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Franklin Electric by 8.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,870 shares of the industrial products company’s stock worth $3,274,000 after acquiring an additional 2,675 shares during the period. Institutional investors own 79.98% of the company’s stock.

Analyst Ratings Changes

FELE has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Robert W. Baird set a $112.00 price objective on shares of Franklin Electric in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $112.00.

Franklin Electric Stock Down 1.5%

Shares of FELE opened at $90.67 on Wednesday. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.91 and a beta of 1.09. The company has a quick ratio of 0.77, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $95.12 and its 200-day moving average price is $92.63. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.01. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The business had revenue of $581.71 million for the quarter, compared to analyst estimates of $563.18 million. During the same quarter last year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 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 company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 6th. Franklin Electric’s payout ratio is currently 34.53%.

Franklin Electric Company 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.