Franklin Electric Co., Inc. $FELE Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,689 shares of the industrial products company’s stock after selling 10,480 shares during the period. Marks Group Wealth Management Inc’s holdings in Franklin Electric were worth $6,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Franklin Electric by 81.6% during the 1st quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 1,796 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Franklin Electric by 105.5% in the first quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock valued at $2,390,000 after purchasing an additional 13,075 shares during the period. NewEdge Advisors LLC raised its stake in shares of Franklin Electric by 30.6% in the first quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,349 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Franklin Electric in the first quarter worth about $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Franklin Electric by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company’s stock worth $12,877,000 after purchasing an additional 10,862 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Activity at Franklin Electric

In other news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the transaction, the insider directly owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of the business’s stock in a transaction 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 owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. This represents a 15.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 19,835 shares of company stock worth $2,004,982. Insiders own 2.89% of the company’s stock.

Franklin Electric Stock Performance

NASDAQ FELE opened at $104.38 on Thursday. The stock has a 50-day simple moving average of $101.49 and a two-hundred day simple moving average of $99.61. The firm has a market capitalization of $4.61 billion, a P/E ratio of 31.44, a PEG ratio of 1.90 and a beta of 1.03. Franklin Electric Co., Inc. has a fifty-two week low of $88.63 and a fifty-two week high of $111.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.14 and a current ratio of 2.67.

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, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $500.44 million during the quarter, compared to analysts’ expectations of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current year.

Franklin Electric Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.