Legal & General Group Plc bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 315,371 shares of the industrial products company's stock, valued at approximately $33,805,000. Legal & General Group Plc owned approximately 0.71% of Franklin Electric as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Quarry LP bought a new stake in Franklin Electric during the third quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of Franklin Electric in the 4th quarter worth $35,000. EverSource Wealth Advisors LLC raised its position in shares of Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock valued at $38,000 after buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 309 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new position in Franklin Electric in the second quarter worth $44,000. 79.98% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of the business's stock in a transaction 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 transaction, the insider directly owned 7,509 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 2.89% of the stock is owned by insiders.
Franklin Electric Trading Down 1.5%
Shares of FELE opened at $100.56 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 28.98, a PEG ratio of 1.83 and a beta of 1.04. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $105.17 and a two-hundred day simple moving average of $100.85.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $605.92 million. During the same quarter in the previous year, the company earned $1.31 earnings per share. The company'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. On average, research analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.
Franklin Electric Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 6th. Franklin Electric's dividend payout ratio is currently 32.28%.
Analyst Ratings Changes
A number of research analysts recently commented on FELE shares. Robert W. Baird increased their target price on Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 30th. Finally, DA Davidson increased their price objective on Franklin Electric from $100.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Franklin Electric currently has a consensus rating of "Hold" and an average target price of $114.50.
View Our Latest Stock Report on Franklin Electric
About Franklin Electric
(
Free Report)
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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