Susquehanna International Group LLP increased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) by 72.8% during the second quarter, Holdings Channel reports. The fund owned 28,486 shares of the industrial products company’s stock after acquiring an additional 12,001 shares during the quarter. Susquehanna International Group LLP’s holdings in Franklin Electric were worth $3,053,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FELE. Quarry LP acquired a new stake in shares of Franklin Electric during the 3rd quarter worth about $28,000. Aster Capital Management DIFC Ltd acquired a new position in Franklin Electric in the 4th quarter valued at about $35,000. Trust Co. of Vermont acquired a new position in Franklin Electric in the 2nd quarter valued at about $44,000. EverSource Wealth Advisors LLC raised its holdings 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 period. Finally, Farther Finance Advisors LLC raised its holdings 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 period. 79.98% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
FELE has been the subject of a number of research analyst reports. Robert W. Baird boosted their price objective on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, DA Davidson lifted their price target on Franklin Electric from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.50.
Insider Activity
In related news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.89% of the company’s stock.
Franklin Electric Price Performance
NASDAQ:FELE opened at $100.56 on Monday. Franklin Electric Co., Inc. has a 52 week low of $89.54 and a 52 week high of $115.82. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 1.80 and a beta of 1.04. The firm’s 50-day simple moving average is $105.17 and its 200 day simple moving average is $100.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 2.41.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.
Franklin Electric Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 6th. Franklin Electric’s payout ratio is 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.
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