Franklin Electric Co., Inc. $FELE Stock Holdings Raised by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Franklin Electric stake by 40.4% in the third quarter, ending with 99,291 shares valued at about $9.5 million. Institutional investors collectively own nearly 80% of the company.
• Franklin Electric reported quarterly EPS of $1.50, beating estimates of $1.40, while revenue rose 8.9% year over year to $633.6 million.
• Analyst views are mixed: D.A. Davidson upgraded the stock to Buy and raised its price target to $135, while other firms rated it Hold; the consensus rating is Hold with a $132.50 average target.

ProShare Advisors LLC increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 40.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,291 shares of the industrial products company's stock after buying an additional 28,585 shares during the quarter. ProShare Advisors LLC owned approximately 0.22% of Franklin Electric worth $9,521,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in Franklin Electric during the third quarter worth $27,000. Trust Co. of Vermont bought a new stake in Franklin Electric during the second quarter worth $44,000. Integrated Wealth Concepts LLC acquired a new stake in Franklin Electric in the second quarter valued at $45,000. Versant Capital Management Inc lifted its stake in Franklin Electric by 66.7% in the second quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 222 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in Franklin Electric in the second quarter valued at $63,000. Institutional investors and hedge funds own 79.98% of the company's stock.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $100.96 on Wednesday. The firm has a market cap of $4.46 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. The company has a current ratio of 2.33, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. The business's 50 day moving average is $98.30 and its 200-day moving average is $100.19.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. The business had revenue of $633.62 million during the quarter, compared to the consensus estimate of $617.19 million. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The firm's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. Equities research analysts predict that Franklin Electric Co., Inc. will post 4.74 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is currently 25.17%.

Key Headlines Impacting Franklin Electric

Here are the key news stories impacting Franklin Electric this week:

• Positive Sentiment: D.A. Davidson upgraded FELE from “Neutral” to “Buy” and raised its price target to $135 from $105. The analyst cited potential growth related to AI data centers and rare earths; the upgrade was associated with a sharp rally in the shares. Franklin Electric upgraded at D.A. Davidson on AI data center, rare-earths growth
• Positive Sentiment: Zacks reported that the average analyst price target suggests 27.1% upside. It also noted that analysts’ agreement in raising earnings estimates may be a more meaningful positive signal than price targets alone. Does Franklin Electric Have the Potential to Rally?
• Negative Sentiment: WallStreetZen cut its rating on Franklin Electric to “Hold,” providing a counterpoint to D.A. Davidson’s bullish call. Franklin Electric Cut to Hold at WallStreetZen

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FELE shares. DA Davidson raised shares of Franklin Electric from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $105.00 to $135.00 in a research report on Monday. Robert W. Baird set a $130.00 target price on shares of Franklin Electric in a report on Thursday, October 29th. Weiss Ratings lowered shares of Franklin Electric from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, October 29th. Finally, Wall Street Zen lowered shares of Franklin Electric from a "buy" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Franklin Electric currently has a consensus rating of "Hold" and an average price target of $132.50.

About Franklin Electric

Franklin Electric Co, Inc NASDAQ: FELE designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.

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