Kingsview Wealth Management LLC Takes Position in Franklin Electric Co., Inc. $FELE

Kingsview Wealth Management LLC purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,416 shares of the industrial products company’s stock, valued at approximately $4,118,000. Kingsview Wealth Management LLC owned approximately 0.09% of Franklin Electric at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FELE. Oregon Public Employees Retirement Fund raised its holdings in Franklin Electric by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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. LPL Financial LLC boosted its holdings in shares of Franklin Electric by 1.0% during the 4th quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company’s stock worth $1,161,000 after purchasing an additional 115 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Franklin Electric by 24.3% during the 2nd 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 last quarter. Finally, Inspire Investing LLC grew its position in shares of Franklin Electric by 2.5% in the fourth quarter. Inspire Investing LLC now owns 4,968 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 120 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other 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 transaction, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. This represents a 53.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.89% of the stock is owned by corporate insiders.

Franklin Electric Stock Performance

Franklin Electric stock opened at $100.56 on Friday. The firm has a 50 day simple moving average of $105.17 and a 200-day simple moving average of $100.85. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.83 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 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million for the quarter, compared to analyst estimates of $605.92 million. During the same quarter in the previous year, the company earned $1.31 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. On average, analysts expect that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a $0.28 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s payout ratio is currently 32.28%.

Franklin Electric 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.