Connor Clark & Lunn Investment Management Ltd. acquired a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,277 shares of the industrial products company's stock, valued at approximately $2,281,000.
Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Franklin Electric by 4.8% in the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock worth $20,659,000 after buying an additional 10,325 shares during the last quarter. Seizert Capital Partners LLC bought a new position in Franklin Electric during the 4th quarter valued at $3,760,000. Gamco Investors INC. ET AL grew its holdings in Franklin Electric by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock worth $23,653,000 after acquiring an additional 10,858 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 acquiring an additional 52,161 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Franklin Electric by 116.6% in the 1st 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 last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.
Wall Street Analysts Forecast Growth
FELE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. DA Davidson boosted their price objective on Franklin Electric from $100.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Robert W. Baird boosted their price objective on Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $114.50.
Check Out Our Latest Stock Analysis on Franklin Electric
Insiders Place Their Bets
In related news, insider Jonathan M. Grandon sold 8,547 shares of the 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 owned 7,509 shares in the company, valued at $776,430.60. This 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 through this hyperlink. 2.89% of the stock is currently owned by company insiders.
Franklin Electric Stock Performance
Franklin Electric stock opened at $100.56 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. Franklin Electric Co., Inc. has a 12 month low of $89.54 and a 12 month high of $115.82. The company has a fifty day moving average price of $105.17 and a two-hundred day moving average price of $100.85. The company has a market cap of $4.45 billion, a PE ratio of 28.98, a P/E/G ratio of 1.83 and a beta of 1.04.
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. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company had revenue of $622.88 million for the quarter, compared to analysts' expectations of $605.92 million. During the same period in the prior year, the company earned $1.31 earnings per share. The firm's revenue 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. Research analysts expect that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.
Franklin Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given 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 of this dividend was Thursday, August 6th. Franklin Electric's dividend payout ratio is currently 32.28%.
Franklin Electric Company Profile
(
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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