Allspring Global Investments Holdings LLC Lowers Position in Franklin Electric Co., Inc. $FELE

Key Points

• Allspring Global Investments cut its stake in Franklin Electric by 14.2% in the first quarter, leaving it with 1.59 million shares worth about $149.2 million. Institutional investors still own nearly 80% of the company.
• Franklin Electric reported stronger-than-expected quarterly results, with EPS of $0.83 versus $0.77 expected and revenue of $500.44 million, up 9.9% year over year. The company also reaffirmed FY2026 guidance of 4.400-4.600 EPS.
• The stock has been relatively firm, recently trading up 3.2% to $107.73, near its 52-week high. Analysts currently have an average Hold rating and a $106.00 price target.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,594,146 shares of the industrial products company's stock after selling 263,434 shares during the period. Allspring Global Investments Holdings LLC owned approximately 3.61% of Franklin Electric worth $149,244,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FELE. Quarry LP purchased a new position in shares of Franklin Electric during the third quarter worth about $28,000. Aster Capital Management DIFC Ltd bought a new stake in Franklin Electric during the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC lifted its position in Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC grew its stake 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 worth $43,000 after buying an additional 309 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Franklin Electric in the 4th quarter worth approximately $48,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Up 3.2%

NASDAQ FELE opened at $107.73 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14. The stock has a market capitalization of $4.76 billion, a PE ratio of 32.45, a PEG ratio of 1.90 and a beta of 1.03. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $111.53. The business's 50-day moving average is $101.64 and its 200 day moving average is $99.67.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.06. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The company 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 business earned $0.67 EPS. Franklin Electric's 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. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued a $0.28 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.12 annualized dividend and a yield of 1.0%. Franklin Electric's dividend payout ratio is 33.73%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Franklin Electric

In other news, insider Delancey W. Davis sold 1,900 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total value of $190,000.00. Following the completion of the sale, the insider directly owned 10,402 shares of the company's stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $883,759.80. Following the sale, the insider directly owned 7,509 shares in the company, valued at $776,430.60. The trade was a 53.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,835 shares of company stock valued at $2,004,982 over the last 90 days. Company insiders own 2.89% of the company's stock.

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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