First Trust Advisors LP Boosts Stock Holdings in Franklin Electric Co., Inc. $FELE

First Trust Advisors LP lifted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 44.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,552,097 shares of the industrial products company’s stock after buying an additional 481,108 shares during the quarter. First Trust Advisors LP owned about 3.49% of Franklin Electric worth $139,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp boosted its holdings in shares of Franklin Electric by 26.4% in the first quarter. Mackenzie Financial Corp now owns 3,627 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 758 shares during the period. XTX Topco Ltd lifted its holdings in Franklin Electric by 93.0% during the 1st quarter. XTX Topco Ltd now owns 5,179 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 2,496 shares in the last quarter. Natixis Advisors LLC boosted its stake in Franklin Electric by 14.4% in the 1st quarter. Natixis Advisors LLC now owns 17,646 shares of the industrial products company’s stock worth $1,657,000 after purchasing an additional 2,227 shares during the period. PNC Financial Services Group Inc. grew its holdings in Franklin Electric by 67.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 36,796 shares of the industrial products company’s stock valued at $3,454,000 after buying an additional 14,835 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Franklin Electric by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 511,965 shares of the industrial products company’s stock valued at $48,063,000 after buying an additional 8,190 shares during the period. Institutional investors own 79.98% of the company’s stock.

Analyst Ratings Changes

FELE has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a report on Monday. Finally, Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric presently has a consensus rating of “Hold” and a consensus target price of $112.00.

Franklin Electric Trading Down 0.4%

Shares of Franklin Electric stock opened at $94.12 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.12. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $109.97. The firm has a market cap of $4.19 billion, a PE ratio of 30.66, a PEG ratio of 1.89 and a beta of 1.07. The company has a 50 day simple moving average of $94.90 and a two-hundred day simple moving average of $93.10.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.01. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The firm had revenue of $581.71 million for the quarter, compared to analyst estimates of $563.18 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, November 6th. Franklin Electric’s dividend payout ratio is presently 34.53%.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.