BlackRock Inc. Makes New $698.17 Million Investment in Franklin Electric Co., Inc. $FELE

Key Points

• BlackRock acquired 6.51 million shares of Franklin Electric, valued at approximately $698.2 million, giving it a 14.73% stake. Institutional investors collectively own nearly 80% of the company.
• Franklin Electric exceeded quarterly expectations, reporting $1.55 in EPS on $622.9 million in revenue, with revenue up 6% year over year. The company guided to fiscal 2026 EPS of $4.50–$4.70.
• Analysts maintain a generally neutral view, with a consensus “Hold” rating and an average price target of $114.50 versus the stock’s recent price of $104.10; the company also pays a $0.28 quarterly dividend.

BlackRock Inc. bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,513,420 shares of the industrial products company's stock, valued at approximately $698,173,000. BlackRock Inc. owned approximately 14.73% of Franklin Electric as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in Franklin Electric by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company's stock valued at $833,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $38,000 after buying an additional 101 shares in the last quarter. LPL Financial LLC increased its holdings in Franklin Electric by 1.0% in the 4th quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company's stock valued at $1,161,000 after buying an additional 115 shares during the period. Osaic Holdings Inc. increased its holdings in Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company's stock valued at $55,000 after buying an additional 119 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Franklin Electric by 2.5% in the 4th quarter. Inspire Investing LLC now owns 4,968 shares of the industrial products company's stock valued at $475,000 after buying an additional 120 shares in the last quarter. Institutional investors own 79.98% of the company's stock.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of the company's stock in a transaction that occurred 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 directly owned 10,402 shares in the company, valued at approximately $1,040,200. This represents a 15.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the firm'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 $776,430.60. The trade was a 53.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.89% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. 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 boosted 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 MarketBeat.com, Franklin Electric presently has a consensus rating of "Hold" and an average target price of $114.50.

Franklin Electric Price Performance

Shares of FELE opened at $104.10 on Monday. 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 stock has a market cap of $4.60 billion, a PE ratio of 30.00, a PEG ratio of 1.87 and a beta of 1.04. Franklin Electric Co., Inc. has a 12-month low of $89.54 and a 12-month high of $115.82. The business has a 50-day simple moving average of $105.34 and a two-hundred day simple moving average of $100.92.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $605.92 million. During the same period last year, the firm posted $1.31 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Analysts anticipate that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders 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 yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 6th. Franklin Electric's payout ratio is presently 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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