Ieq Capital LLC Makes New Investment in Franklin Electric Co., Inc. $FELE

Ieq Capital LLC acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,645 shares of the industrial products company’s stock, valued at approximately $819,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FELE. OneAscent Financial Services LLC bought a new stake in Franklin Electric in the second quarter worth $389,000. Allworth Financial LP bought a new position in shares of Franklin Electric during the second quarter valued at about $63,000. Ceredex Value Advisors LLC purchased a new position in shares of Franklin Electric in the second quarter worth about $12,745,000. Vise Technologies Inc. purchased a new position in shares of Franklin Electric in the second quarter worth about $828,000. Finally, First National Bank of Omaha bought a new stake in shares of Franklin Electric in the 2nd quarter valued at about $4,778,000. Institutional investors own 79.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 8,547 shares of the company’s 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 sale, the insider directly owned 7,509 shares of the company’s stock, valued at $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Franklin Electric Trading Down 0.4%

Shares of FELE opened at $102.14 on Friday. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. 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 firm’s 50-day moving average price is $105.25 and its 200-day moving average price is $100.85. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.84 and a beta of 1.04.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. During the same period in the prior year, the firm earned $1.31 earnings per share. Franklin Electric’s 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. Sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. Franklin Electric’s dividend payout ratio is currently 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.