Engineers Gate Manager LP Raises Position in Franklin Electric Co., Inc. $FELE

Key Points

• Engineers Gate Manager LP increased its Franklin Electric stake by 687.1% in the second quarter, reaching 32,666 shares valued at approximately $3.5 million. Institutional investors collectively own 79.98% of FELE.
• Franklin Electric exceeded quarterly expectations, reporting $1.55 in EPS versus the $1.44 consensus and $622.88 million in revenue, up 6% year over year. Management issued fiscal 2026 EPS guidance of $4.50–$4.70.
• The company pays a quarterly dividend of $0.28 per share, equivalent to an annualized $1.12 and a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $114.50.

Engineers Gate Manager LP boosted its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 687.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,666 shares of the industrial products company's stock after purchasing an additional 28,516 shares during the period. Engineers Gate Manager LP owned approximately 0.07% of Franklin Electric worth $3,501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Franklin Electric in the 2nd quarter worth approximately $698,173,000. California State Teachers Retirement System lifted its position in Franklin Electric by 10,039.2% in the second quarter. California State Teachers Retirement System now owns 4,677,236 shares of the industrial products company's stock valued at $501,353,000 after purchasing an additional 4,631,106 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Franklin Electric during the second quarter valued at approximately $82,970,000. Norges Bank purchased a new stake in shares of Franklin Electric during the fourth quarter valued at approximately $50,010,000. Finally, Amundi grew its holdings in shares of Franklin Electric by 134.8% in the third quarter. Amundi now owns 624,481 shares of the industrial products company's stock worth $59,424,000 after purchasing an additional 358,517 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Franklin Electric Price Performance

FELE opened at $97.83 on Monday. 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 has a market capitalization of $4.33 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02. The stock's 50 day moving average price is $103.76 and its 200-day moving average price is $100.60. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $115.82.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $622.88 million for the quarter, compared to analysts' expectations of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. On average, equities research analysts predict that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric's payout ratio is presently 32.28%.

Analysts Set New Price Targets

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

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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