Meiji Yasuda Asset Management Co Ltd. Buys Shares of 24,721 Franklin Electric Co., Inc. $FELE

Key Points

• Meiji Yasuda Asset Management acquired 24,721 Franklin Electric shares worth approximately $2.65 million, while other institutions also initiated positions. Institutional investors now own 79.98% of the company.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and an average price target of $114.50; recent targets ranged from $105 to $124.
• Franklin Electric exceeded quarterly expectations, reporting $1.55 in EPS and $622.88 million in revenue, up 6% year over year. The company also pays a quarterly dividend of $0.28 per share, for a 1.1% annualized yield.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,721 shares of the industrial products company's stock, valued at approximately $2,650,000. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.06% of Franklin Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Franklin Electric during the 2nd quarter valued at $1,875,000. Orchard Capital Management LLC acquired a new stake in Franklin Electric in the second quarter valued at $367,000. Ieq Capital LLC bought a new position in Franklin Electric during the 2nd quarter worth $819,000. OneAscent Financial Services LLC bought a new position in Franklin Electric during the 2nd quarter worth $389,000. Finally, Allworth Financial LP acquired a new position in Franklin Electric during the 2nd quarter worth about $63,000. 79.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on FELE shares. Robert W. Baird upped their price target on Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, DA Davidson upped their target price on Franklin Electric from $100.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Franklin Electric presently has a consensus rating of "Hold" and an average price target of $114.50.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares in the company, valued at approximately $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.89% of the stock is owned by corporate insiders.

Franklin Electric Price Performance

FELE stock opened at $103.15 on Tuesday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.87 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 12-month low of $89.54 and a 12-month high of $115.82. The company's fifty day simple moving average is $105.34 and its 200 day simple moving average is $100.92.

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 analysts' consensus estimates of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The firm had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. During the same period last year, the business posted $1.31 EPS. The business'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. On average, 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 announced a quarterly dividend, which was paid on Thursday, August 20th. Investors 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 annualized dividend and a yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is currently 32.28%.

Franklin Electric Company Profile

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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