Rhumbline Advisers Sells 22,451 Shares of Franklin Electric Co., Inc. $FELE

Rhumbline Advisers lessened its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 14.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,001 shares of the industrial products company’s stock after selling 22,451 shares during the quarter. Rhumbline Advisers’ holdings in Franklin Electric were worth $12,186,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FELE. Azzad Asset Management Inc. ADV raised its stake in Franklin Electric by 2.8% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,142 shares of the industrial products company’s stock worth $775,000 after buying an additional 221 shares during the period. Alps Advisors Inc. increased its holdings in shares of Franklin Electric by 11.8% during the third quarter. Alps Advisors Inc. now owns 90,086 shares of the industrial products company’s stock valued at $8,576,000 after acquiring an additional 9,528 shares in the last quarter. State of Wyoming raised its position in shares of Franklin Electric by 2,204.7% during the third quarter. State of Wyoming now owns 5,831 shares of the industrial products company’s stock worth $555,000 after purchasing an additional 5,578 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Franklin Electric by 3.1% in the 3rd quarter. Mutual Advisors LLC now owns 5,112 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 154 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Franklin Electric by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 11,463 shares of the industrial products company’s stock valued at $1,091,000 after purchasing an additional 139 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Trading Up 4.2%

Shares of FELE stock opened at $94.71 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.79. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.66 and a beta of 1.08. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.53. The company has a 50-day simple moving average of $100.20 and a two-hundred day simple moving average of $97.04.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, February 17th. The industrial products company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The business had revenue of $506.86 million during the quarter, compared to analysts’ expectations of $516.25 million. Franklin Electric had a return on equity of 14.52% and a net margin of 6.90%.Franklin Electric’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.27. Franklin Electric’s payout ratio is 36.48%.

Wall Street Analyst Weigh In

FELE has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Monday, December 29th. Robert W. Baird set a $112.00 target price on shares of Franklin Electric in a report on Wednesday, October 29th. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, DA Davidson set a $100.00 price objective on Franklin Electric in a report on Thursday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric currently has a consensus rating of “Hold” and an average 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.