Legal & General Group Plc Takes $33.80 Million Position in Franklin Electric Co., Inc. $FELE

Legal & General Group Plc purchased a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 315,371 shares of the industrial products company’s stock, valued at approximately $33,805,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FELE. Quarry LP purchased a new position in Franklin Electric during the third quarter valued at $28,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Franklin Electric during the 4th quarter valued at $35,000. EverSource Wealth Advisors LLC grew its position in shares of Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Franklin Electric by 213.1% in 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 in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Franklin Electric in the 2nd quarter worth about $44,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Franklin Electric

In other news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the sale, the insider owned 7,509 shares in the company, valued at $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.89% of the stock is currently owned by insiders.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $100.56 on Friday. The business has a fifty day moving average price of $105.17 and a 200-day moving average price of $100.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. The company has a market capitalization of $4.45 billion, a PE ratio of 28.98, a PEG ratio of 1.83 and a beta of 1.04. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. During the same quarter in the previous year, the business posted $1.31 EPS. Franklin Electric’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. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.65 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 6th. Franklin Electric’s dividend payout ratio 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.