Franklin Electric Co., Inc. $FELE Holdings Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Franklin Electric stake by 75.3% in the third quarter, acquiring 95,275 additional shares and bringing its holdings to 221,740 shares valued at approximately $21.3 million. Institutional investors and hedge funds collectively own 79.98% of FELE.
• Analyst sentiment remains mostly neutral: Franklin Electric has an average “Hold” rating and a consensus price target of $114.50, despite Weiss Ratings upgrading the stock to “Buy” and Robert W. Baird raising its price target to $124.
• Franklin Electric reported quarterly EPS of $1.55, beating estimates of $1.44, while revenue rose 6% year over year to $622.88 million. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 1.1% annualized yield.

Assenagon Asset Management S.A. boosted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 75.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,740 shares of the industrial products company's stock after purchasing an additional 95,275 shares during the period. Assenagon Asset Management S.A. owned approximately 0.50% of Franklin Electric worth $21,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its stake in shares of Franklin Electric by 4.4% in the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock valued at $23,653,000 after buying an additional 10,858 shares in the last quarter. Principal Financial Group Inc. lifted 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 worth $20,659,000 after acquiring an additional 10,325 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Franklin Electric by 687.1% during the 2nd quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company's stock worth $3,501,000 after acquiring an additional 28,516 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Franklin Electric by 116.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company's stock worth $13,562,000 after acquiring an additional 79,222 shares in the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in Franklin Electric during the 2nd quarter valued at about $1,694,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on FELE shares. Weiss Ratings raised Franklin Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. DA Davidson reissued a "neutral" rating and set a $105.00 price target on shares of Franklin Electric in a research report on Wednesday, September 9th. Wall Street Zen cut shares of Franklin Electric from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $114.50.

Franklin Electric Stock Performance

FELE opened at $100.16 on Monday. Franklin Electric Co., Inc. has a 12 month low of $89.54 and a 12 month high of $115.82. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.80 and a beta of 1.03. 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 business has a fifty day moving average price of $99.69 and a 200 day moving average price of $101.09.

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

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a $0.28 dividend. 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 dividend payout ratio is currently 32.28%.

Franklin Electric Company Profile

Franklin Electric Co, Inc NASDAQ: FELE is a global manufacturer and distributor of systems and components used to move, manage and control water and other fluids. Founded in 1944 and headquartered in Bluffton, Indiana, the company originally focused on submersible electric motors and has expanded into a broader range of fluid-handling technologies.

Franklin Electric's Water Systems business supplies submersible pumps, motors, drives, controls, monitoring equipment and related products for residential, commercial, agricultural, municipal and industrial applications.

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