Louisiana State Employees Retirement System Sells 200 Shares of Franklin Electric Co., Inc. $FELE

Louisiana State Employees Retirement System lessened its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,300 shares of the industrial products company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Franklin Electric were worth $1,642,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FELE. Wealth Enhancement Advisory Services LLC lifted its position in shares of Franklin Electric by 30.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,059 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 710 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Franklin Electric by 168.5% in the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 182 shares during the period. GAMMA Investing LLC lifted its position in shares of Franklin Electric by 46.7% in the 1st quarter. GAMMA Investing LLC now owns 2,051 shares of the industrial products company’s stock worth $193,000 after purchasing an additional 653 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Franklin Electric by 241.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 73,362 shares of the industrial products company’s stock worth $6,887,000 after purchasing an additional 51,903 shares during the period. Finally, CX Institutional purchased a new stake in shares of Franklin Electric in the 1st quarter worth about $219,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Down 1.5%

Shares of NASDAQ FELE opened at $91.76 on Monday. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The stock has a market cap of $4.08 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08. The firm has a 50-day moving average of $95.73 and a 200 day moving average of $91.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $587.43 million during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.06 annualized dividend and a yield of 1.2%. Franklin Electric’s payout ratio is 27.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FELE shares. Robert W. Baird raised their target price on shares of Franklin Electric from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $107.00.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total value of $983,829.08. Following the completion of the transaction, the insider directly owned 8,171 shares of the company’s stock, valued at approximately $801,003.13. The trade was a 55.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.72% of the company’s stock.

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.