523,505 Shares in Franklin Electric Co., Inc. $FELE Acquired by Norges Bank

Norges Bank acquired a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 523,505 shares of the industrial products company’s stock, valued at approximately $50,010,000. Norges Bank owned approximately 1.18% of Franklin Electric as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Franklin Electric during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its position in Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 101 shares during the period. Farther Finance Advisors LLC lifted its position in Franklin Electric by 213.1% during the 4th quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 309 shares during the period. Allworth Financial LP lifted its position in Franklin Electric by 72.5% during the 4th quarter. Allworth Financial LP now owns 521 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 219 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Franklin Electric by 24.3% during the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total value of $190,000.00. Following the completion of the transaction, the insider directly owned 10,402 shares in the company, valued at $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan M. Grandon sold 4,988 shares of Franklin Electric stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $100.02, for a total value of $498,899.76. Following the completion of the transaction, the insider owned 7,509 shares of the company’s stock, valued at approximately $751,050.18. The trade was a 39.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,288 shares of company stock valued at $1,121,222. 2.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FELE shares. DA Davidson reissued a “neutral” rating and set a $100.00 target price on shares of Franklin Electric in a research note on Wednesday, April 29th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. 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 target price of $106.00.

Franklin Electric Price Performance

FELE stock opened at $98.56 on Monday. Franklin Electric Co., Inc. has a 52-week low of $84.31 and a 52-week high of $111.53. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 1.79 and a beta of 1.05. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $98.39 and its 200-day simple moving average is $97.92.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The firm had revenue of $500.44 million for the quarter, compared to analysts’ expectations of $479.21 million. During the same quarter last year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Equities research analysts expect that Franklin Electric Co., Inc. will post 4.58 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, May 7th. Franklin Electric’s payout ratio is presently 33.73%.

Franklin Electric 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.