Marks Group Wealth Management Inc Trims Stake in Franklin Electric Co., Inc. $FELE

Marks Group Wealth Management Inc lessened its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,689 shares of the industrial products company’s stock after selling 10,480 shares during the period. Marks Group Wealth Management Inc owned about 0.15% of Franklin Electric worth $6,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Franklin Electric in the third quarter worth approximately $28,000. Aster Capital Management DIFC Ltd purchased a new position in Franklin Electric during the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC grew its position in Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 101 shares during the last quarter. Farther Finance Advisors LLC grew its position in Franklin Electric by 213.1% in the 4th quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 309 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Franklin Electric in the fourth quarter worth $48,000. Institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $100.00 target price on shares of Franklin Electric in a research report on Tuesday, June 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.00.

Insider Transactions at Franklin Electric

In other news, insider Jonathan M. Grandon sold 8,547 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total transaction of $883,759.80. Following the sale, the insider owned 7,509 shares in the company, valued at approximately $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 of the company’s stock, valued at $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 19,835 shares of company stock valued at $2,004,982. 2.89% of the stock is currently owned by company insiders.

Franklin Electric Stock Down 0.1%

Shares of NASDAQ FELE opened at $104.38 on Thursday. Franklin Electric Co., Inc. has a 12-month low of $88.63 and a 12-month high of $111.53. The stock’s fifty day simple moving average is $101.49 and its two-hundred day simple moving average is $99.61. The stock has a market capitalization of $4.61 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.03. The company has a current ratio of 2.67, a quick ratio of 1.14 and a debt-to-equity ratio of 0.10.

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

Franklin Electric Dividend Announcement

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

Franklin Electric 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.