523,505 Shares in Franklin Electric Co., Inc. $FELE Acquired by Norges Bank

Norges Bank acquired a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 523,505 shares of the industrial products company’s stock, valued at approximately $50,010,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP bought a new position in Franklin Electric in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position 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 during the period. Farther Finance Advisors LLC lifted its position in Franklin Electric by 213.1% in the fourth 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. Allworth Financial LP lifted its position in Franklin Electric by 72.5% in the fourth quarter. Allworth Financial LP now owns 521 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 219 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Franklin Electric by 24.3% in the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 119 shares during the period. 79.98% of the stock is owned by institutional investors.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total transaction of $190,000.00. Following the completion of the sale, the insider directly owned 10,402 shares in the company, valued at $1,040,200. This represents a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Grandon sold 4,200 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $98.23, for a total transaction of $412,566.00. Following the sale, the insider owned 7,509 shares of the company’s stock, valued at $737,609.07. This trade represents a 35.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,288 shares of company stock valued at $1,121,222 over the last 90 days. Corporate insiders own 2.89% of the company’s stock.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $98.56 on Monday. The stock has a market capitalization of $4.35 billion, a PE ratio of 29.69, a P/E/G ratio of 1.79 and a beta of 1.05. Franklin Electric Co., Inc. has a 1 year low of $84.31 and a 1 year high of $111.53. The firm has a fifty day moving average price of $98.39 and a 200 day moving average price of $97.92. The company has a current ratio of 2.67, a quick ratio of 1.14 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $500.44 million during the quarter, compared to analysts’ expectations of $479.21 million. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. Franklin Electric’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Analysts expect that Franklin Electric Co., Inc. will post 4.58 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were issued 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, May 7th. Franklin Electric’s dividend payout ratio is 33.73%.

Analysts Set New Price Targets

FELE has been the subject of a number of research analyst reports. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Franklin Electric in a report on Wednesday, April 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.00.

About Franklin Electric

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.