Edgestream Partners L.P. Sells 42,382 Shares of Franklin Electric Co., Inc. $FELE

Edgestream Partners L.P. cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 82.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,162 shares of the industrial products company’s stock after selling 42,382 shares during the quarter. Edgestream Partners L.P.’s holdings in Franklin Electric were worth $844,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in Franklin Electric by 19.4% during the 4th quarter. Teacher Retirement System of Texas now owns 69,988 shares of the industrial products company’s stock valued at $6,686,000 after acquiring an additional 11,351 shares during the period. Seizert Capital Partners LLC purchased a new stake in Franklin Electric in the fourth quarter worth about $3,760,000. Principal Financial Group Inc. increased its stake in shares of Franklin Electric by 4.8% during the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock valued at $20,659,000 after purchasing an additional 10,325 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of Franklin Electric during the first quarter valued at approximately $2,010,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Franklin Electric by 58.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company’s stock valued at $13,027,000 after purchasing an additional 52,161 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Franklin Electric

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

Franklin Electric Trading Up 2.8%

Franklin Electric stock opened at $109.92 on Wednesday. The business’s fifty day moving average is $103.72 and its 200 day moving average is $100.35. Franklin Electric Co., Inc. has a one year low of $89.54 and a one year high of $115.82. The stock has a market capitalization of $4.86 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. 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 released its quarterly earnings data 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. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million during the quarter, compared to analysts’ expectations of $605.92 million. During the same period in the previous year, the company earned $1.31 earnings per share. The firm’s quarterly revenue 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 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 6th. Franklin Electric’s dividend payout ratio is presently 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.