Assenagon Asset Management S.A. Lowers Stock Position in Franklin Electric Co., Inc. $FELE

Key Points

• Assenagon Asset Management cut its Franklin Electric stake by 50.8% in the second quarter, selling 130,762 shares and retaining 126,465 shares worth approximately $13.6 million. Institutional investors collectively own 79.98% of FELE.
• Franklin Electric exceeded quarterly expectations, reporting EPS of $1.55 versus the $1.44 consensus and revenue of $622.9 million, up 6% year over year. Management issued fiscal 2026 EPS guidance of $4.50–$4.70.
• Analysts maintain a consensus “Hold” rating with a $114.50 price target, while insiders have sold 14,647 shares worth about $1.49 million over the past 90 days. The company also announced a quarterly dividend of $0.28 per share, yielding roughly 1.0% annually.

Assenagon Asset Management S.A. reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 50.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,465 shares of the industrial products company's stock after selling 130,762 shares during the period. Assenagon Asset Management S.A. owned 0.29% of Franklin Electric worth $13,556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Franklin Electric by 20.7% in the second quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company's stock valued at $190,000 after acquiring an additional 305 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Franklin Electric by 843.3% during the second quarter. Harbor Investment Advisory LLC now owns 632 shares of the industrial products company's stock worth $68,000 after acquiring an additional 565 shares during the period. Central Pacific Bank Trust Division boosted its position in Franklin Electric by 16.4% in the second quarter. Central Pacific Bank Trust Division now owns 1,920 shares of the industrial products company's stock worth $206,000 after purchasing an additional 270 shares during the last quarter. Moody National Bank Trust Division boosted its position in Franklin Electric by 8.1% in the second quarter. Moody National Bank Trust Division now owns 18,468 shares of the industrial products company's stock worth $1,980,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Franklin Electric by 66.7% in the 2nd quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company's stock valued at $59,000 after purchasing an additional 222 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Franklin Electric

In other news, insider Jonathan M. Grandon sold 8,547 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value 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. This trade represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction on 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 transaction, the insider owned 10,402 shares of the company's stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,647 shares of company stock worth $1,486,326. Company insiders own 2.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FELE shares. Weiss Ratings raised Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Robert W. Baird increased their price target on shares of Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Finally, DA Davidson increased their price target on shares of 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 MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $114.50.

Franklin Electric Trading Down 1.9%

Shares of Franklin Electric stock opened at $107.43 on Tuesday. The stock has a market capitalization of $4.75 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.96 and a beta of 1.04. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $115.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 2.41. The stock's 50-day simple moving average is $104.52 and its 200 day simple moving average is $100.62.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $622.88 million during the quarter, compared to analyst estimates of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, research analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. Franklin Electric's payout ratio is presently 32.28%.

About Franklin Electric

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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