9,700 Shares in Franklin Electric Co., Inc. $FELE Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,700 shares of the industrial products company’s stock, valued at approximately $1,040,000.

Several other institutional investors have also added to or reduced their stakes in FELE. Quarry LP bought a new stake in shares of Franklin Electric in the 3rd quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Franklin Electric in the fourth quarter worth $35,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 101 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Franklin Electric by 213.1% during the fourth quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 309 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new stake in shares of Franklin Electric during the second quarter valued at $44,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the transaction, the insider owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird lifted their price objective on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a 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 note on Thursday, July 30th. Finally, DA Davidson raised their price target on shares of Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric has a consensus rating of “Hold” and a consensus target price of $114.50.

Franklin Electric Trading Down 0.5%

NASDAQ:FELE opened at $100.09 on Tuesday. The company has a market cap of $4.42 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $105.09 and a two-hundred day simple moving average of $100.74. Franklin Electric Co., Inc. has a 12 month low of $89.54 and a 12 month high of $115.82.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Research analysts forecast that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current 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 given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, August 6th. Franklin Electric’s dividend payout ratio is 32.28%.

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.