California State Teachers Retirement System Trims Holdings in Franklin Electric Co., Inc. $FELE

Key Points

• California State Teachers Retirement System reduced its Franklin Electric stake by 5.4%, selling 2,495 shares and retaining 43,635 shares worth approximately $4.7 million. Institutional investors collectively own about 80% of the company.
• Analyst sentiment remains cautious, with Franklin Electric holding a consensus “Hold” rating and an average price target of $114.50. Recent ratings included a downgrade to Hold and neutral ratings from multiple analysts.
• Franklin Electric exceeded quarterly expectations, reporting $1.55 in EPS on $622.9 million in revenue, while revenue rose 6% year over year. The company also pays a quarterly dividend of $0.28, equivalent to a 1.2% annual yield.

California State Teachers Retirement System reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,635 shares of the industrial products company's stock after selling 2,495 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Franklin Electric worth $4,677,236 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL grew its position in Franklin Electric by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock valued at $23,653,000 after acquiring an additional 10,858 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Franklin Electric by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock valued at $20,659,000 after purchasing an additional 10,325 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Franklin Electric by 116.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company's stock worth $13,562,000 after purchasing an additional 79,222 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Franklin Electric by 58.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company's stock worth $13,027,000 after purchasing an additional 52,161 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Franklin Electric by 11.0% during the 1st quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company's stock worth $75,956,000 after purchasing an additional 81,988 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FELE shares. Wall Street Zen downgraded Franklin Electric from a "buy" rating to a "hold" rating in a report on Saturday, September 5th. Robert W. Baird upped their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. DA Davidson restated a "neutral" rating and issued a $105.00 price objective on shares of Franklin Electric in a research note on Wednesday, September 9th. Finally, Weiss Ratings raised shares of Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $114.50.

Franklin Electric Stock Performance

Shares of FELE traded up $0.03 during trading hours on Tuesday, reaching $96.12. 89,571 shares of the company's stock traded hands, compared to its average volume of 307,959. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 1.75 and a beta of 1.02. The business's fifty day simple moving average is $103.57 and its two-hundred day simple moving average is $100.58.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued 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. The company had revenue of $622.88 million during the quarter, compared to analysts' expectations of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The business's revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Analysts predict that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, August 6th. Franklin Electric's dividend payout ratio (DPR) is 32.28%.

About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.

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