Lazard Asset Management LLC lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 41.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,497 shares of the industrial products company’s stock after selling 13,266 shares during the quarter. Lazard Asset Management LLC’s holdings in Franklin Electric were worth $1,705,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in Franklin Electric during the third quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new stake in Franklin Electric in the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC lifted its position in Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Franklin Electric by 213.1% during the 4th quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock worth $43,000 after buying an additional 309 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Franklin Electric during the 4th quarter worth about $48,000. 79.98% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. DA Davidson raised their price target on Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Robert W. Baird upped their price objective on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $114.50.
Insider Activity
In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider owned 7,509 shares in the company, valued at $776,430.60. The trade was a 53.23% decrease in their position. The sale 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 dated 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 sale, the insider directly owned 10,402 shares of the company’s stock, valued at $1,040,200. This represents a 15.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,647 shares of company stock valued at $1,486,326 in the last quarter. Corporate insiders own 2.89% of the company’s stock.
Franklin Electric Stock Performance
NASDAQ:FELE opened at $106.96 on Tuesday. The stock has a 50 day simple moving average of $103.53 and a 200 day simple moving average of $100.28. The stock has a market cap of $4.73 billion, a P/E ratio of 30.82, a PEG ratio of 1.88 and a beta of 1.03. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10.
Franklin Electric (NASDAQ:FELE – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The firm had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. During the same quarter last year, the business earned $1.31 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.
Franklin Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 6th. Franklin Electric’s dividend payout ratio (DPR) is currently 32.28%.
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.
Featured Stories
- Five stocks we like better than Franklin Electric
- SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control
- Why Rare Earth Processing Could Be the Real 2027 Opportunity
- The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure
- TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks?
Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.
