King Luther Capital Management Corp Cuts Position in Franklin Electric Co., Inc. $FELE

King Luther Capital Management Corp reduced its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,035,481 shares of the industrial products company’s stock after selling 52,076 shares during the period. King Luther Capital Management Corp’s holdings in Franklin Electric were worth $98,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FELE. Intech Investment Management LLC boosted its position in Franklin Electric by 11.0% in the 2nd quarter. Intech Investment Management LLC now owns 40,280 shares of the industrial products company’s stock valued at $3,615,000 after buying an additional 3,986 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Franklin Electric in the third quarter valued at $1,181,000. AlphaQuest LLC boosted its holdings in Franklin Electric by 38.7% in the third quarter. AlphaQuest LLC now owns 45,466 shares of the industrial products company’s stock valued at $4,328,000 after purchasing an additional 12,675 shares during the period. Alps Advisors Inc. boosted its holdings in Franklin Electric by 11.8% in the third quarter. Alps Advisors Inc. now owns 90,086 shares of the industrial products company’s stock valued at $8,576,000 after purchasing an additional 9,528 shares during the period. Finally, Entropy Technologies LP grew its stake in Franklin Electric by 220.2% during the 2nd quarter. Entropy Technologies LP now owns 8,288 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 5,700 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. DA Davidson reiterated a “neutral” rating and issued a $90.00 price target on shares of Franklin Electric in a research note on Wednesday. Finally, Robert W. Baird set a $112.00 price objective on shares of Franklin Electric in a research report on Wednesday, October 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric has an average rating of “Hold” and a consensus target price of $101.00.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $90.88 on Thursday. The stock’s 50-day simple moving average is $100.24 and its 200-day simple moving average is $97.05. The firm has a market capitalization of $4.05 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. Franklin Electric Co., Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $111.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.79.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). The company had revenue of $506.86 million during the quarter, compared to analysts’ expectations of $516.25 million. Franklin Electric had a net margin of 6.90% and a return on equity of 14.52%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, February 5th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.27. Franklin Electric’s dividend payout ratio (DPR) is presently 36.48%.

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.