Arrowstreet Capital Limited Partnership Acquires 79,222 Shares of Franklin Electric Co., Inc. $FELE

Arrowstreet Capital Limited Partnership increased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 116.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 147,141 shares of the industrial products company’s stock after purchasing an additional 79,222 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Franklin Electric were worth $13,562,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FELE. Sei Investments Co. grew its holdings in Franklin Electric by 40.8% in the 1st quarter. Sei Investments Co. now owns 112,786 shares of the industrial products company’s stock valued at $10,395,000 after buying an additional 32,657 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Franklin Electric by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock worth $93,059,000 after buying an additional 36,268 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Franklin Electric by 3.2% during the first quarter. California Public Employees Retirement System now owns 89,388 shares of the industrial products company’s stock worth $8,239,000 after buying an additional 2,763 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Franklin Electric by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 20,707 shares of the industrial products company’s stock worth $1,909,000 after buying an additional 172 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Franklin Electric by 0.3% in the first quarter. Hillsdale Investment Management Inc. now owns 75,800 shares of the industrial products company’s stock valued at $6,986,000 after acquiring an additional 200 shares during the period. Institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling at Franklin Electric

In related news, insider Jonathan M. Grandon sold 8,547 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total value of $883,759.80. Following the sale, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 approximately $1,040,200. The trade was a 15.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,647 shares of company stock worth $1,486,326 in the last three months. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Franklin Electric Price Performance

Shares of FELE stock opened at $104.72 on Friday. Franklin Electric Co., Inc. has a 12 month low of $89.54 and a 12 month high of $115.82. The company has a market capitalization of $4.63 billion, a P/E ratio of 30.18, a P/E/G ratio of 1.85 and a beta of 1.03. The stock has a 50 day moving average of $103.36 and a two-hundred day moving average of $100.22. The company has a current ratio of 2.41, a quick ratio of 1.14 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.Franklin Electric’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 6th. Franklin Electric’s payout ratio is 32.28%.

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.