Renaissance Technologies LLC Cuts Position in Franklin Electric Co., Inc. $FELE

Renaissance Technologies LLC cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 73.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 26,900 shares of the industrial products company’s stock after selling 75,300 shares during the period. Renaissance Technologies LLC’s holdings in Franklin Electric were worth $2,479,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP purchased a new position in Franklin Electric in the third quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Franklin Electric during the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 101 shares during the period. Farther Finance Advisors LLC raised its stake in shares of 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 purchasing an additional 309 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Franklin Electric in the 4th quarter worth about $48,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Performance

Shares of FELE stock opened at $109.46 on Monday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.96 and a beta of 1.04. The company’s fifty day simple moving average is $104.32 and its two-hundred day simple moving average is $100.55. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $115.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $622.88 million during the quarter, compared to analyst estimates of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be paid a $0.28 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.0%. Franklin Electric’s dividend payout ratio (DPR) is currently 32.28%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the transaction, the insider owned 10,402 shares of the company’s stock, valued at $1,040,200. The trade was a 15.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the sale, the insider owned 7,509 shares in the company, valued at approximately $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,647 shares of company stock valued at $1,486,326 in the last ninety days. Insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

FELE has been the subject of several research reports. Robert W. Baird increased their price target on shares of Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. DA Davidson lifted their price objective on shares of Franklin Electric from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.50.

About Franklin Electric

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.