Summit Global Investments Acquires New Position in Franklin Electric Co., Inc. $FELE

Summit Global Investments acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,599 shares of the industrial products company’s stock, valued at approximately $922,000.

A number of other hedge funds have also added to or reduced their stakes in FELE. Quarry LP bought a new stake in shares of Franklin Electric during the third quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in Franklin Electric in the fourth quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its stake in Franklin Electric by 31.2% in the second 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 in the last quarter. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 309 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Franklin Electric during the 4th quarter worth $48,000. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $105.77 on Friday. The firm has a 50 day moving average of $105.15 and a 200 day moving average of $100.78. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.90 and a beta of 1.04. Franklin Electric Co., Inc. has a 52 week low of $89.54 and a 52 week high of $115.82.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $605.92 million. During the same quarter last year, the firm earned $1.31 EPS. The business’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. On average, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is presently 32.28%.

Wall Street Analyst Weigh In

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

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were 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 approximately $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction dated 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 directly owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 14,647 shares of company stock worth $1,486,326. 2.89% of the stock is owned by corporate insiders.

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.