Squarepoint Ops LLC Boosts Holdings in Franklin Electric Co., Inc. $FELE

Key Points

• Squarepoint Ops LLC increased its Franklin Electric stake by 511.5% in the second quarter, bringing its holdings to 17,274 shares valued at approximately $1.85 million. Institutional investors collectively own 79.98% of FELE.
• Analysts maintain a generally neutral outlook, with Franklin Electric receiving an average “Hold” rating and a consensus price target of $114.50.
• Franklin Electric exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $622.88 million in revenue, while revenue rose 6% year over year. The company also paid a quarterly dividend of $0.28 per share, representing a 1.2% annualized yield.

Squarepoint Ops LLC raised its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 511.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,274 shares of the industrial products company's stock after purchasing an additional 14,449 shares during the period. Squarepoint Ops LLC's holdings in Franklin Electric were worth $1,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FELE. Principal Financial Group Inc. boosted its stake in Franklin Electric by 4.8% during the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock valued at $20,659,000 after buying an additional 10,325 shares during the period. Gamco Investors INC. ET AL grew its position in Franklin Electric by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company's stock worth $23,653,000 after buying an additional 10,858 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 79,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Franklin Electric by 58.5% in 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 during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Franklin Electric by 11.0% in the 1st quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company's stock valued at $75,956,000 after acquiring an additional 81,988 shares in the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FELE shares. Robert W. Baird lifted 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 shares of Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 30th. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 target price on shares of Franklin Electric in a research note on Wednesday, September 9th. Finally, Wall Street Zen downgraded shares of Franklin Electric from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Franklin Electric has an average rating of "Hold" and a consensus target price of $114.50.

Franklin Electric Stock Down 0.1%

Shares of NASDAQ:FELE opened at $95.95 on Wednesday. The firm has a market capitalization of $4.24 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 2.41. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $115.82. The firm has a fifty day moving average of $103.44 and a 200 day moving average of $100.56.

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 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 business had revenue of $622.88 million for the quarter, compared to the consensus estimate of $605.92 million. During the same quarter last year, the business posted $1.31 earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, research analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 6th. Franklin Electric's dividend payout ratio (DPR) is currently 32.28%.

Franklin Electric Profile

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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