Assenagon Asset Management S.A. Has $23.71 Million Position in Franklin Electric Co., Inc. $FELE

Assenagon Asset Management S.A. cut its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 31.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 257,227 shares of the industrial products company’s stock after selling 118,024 shares during the period. Assenagon Asset Management S.A.’s holdings in Franklin Electric were worth $23,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Franklin Electric by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Franklin Electric by 31.2% in the 2nd 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Franklin Electric by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,885 shares of the industrial products company’s stock valued at $787,000 after buying an additional 111 shares in the last quarter. LPL Financial LLC grew its position in Franklin Electric by 1.0% in the fourth quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company’s stock valued at $1,161,000 after acquiring an additional 115 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $107.89 on Friday. The stock’s 50-day simple moving average is $100.68 and its two-hundred day simple moving average is $98.93. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.77 billion, a P/E ratio of 32.50, a P/E/G ratio of 1.98 and a beta of 1.05. Franklin Electric Co., Inc. has a twelve month low of $88.63 and a twelve month high of $111.53.

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

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.0%. Franklin Electric’s payout ratio is presently 33.73%.

Insider Activity

In related news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total transaction of $190,000.00. Following the sale, the insider directly owned 10,402 shares in the company, valued at $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares in the company, valued at $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,835 shares of company stock worth $2,004,982 in the last quarter. 2.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson reissued a “neutral” rating and set a $100.00 target price on shares of Franklin Electric in a research note on Tuesday, June 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $106.00.

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.