Principal Financial Group Inc. Has $20.66 Million Stake in Franklin Electric Co., Inc. $FELE

Principal Financial Group Inc. grew its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 224,135 shares of the industrial products company’s stock after acquiring an additional 10,325 shares during the quarter. Principal Financial Group Inc.’s holdings in Franklin Electric were worth $20,659,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FELE. Quarry LP bought a new position in shares of Franklin Electric during the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new stake in Franklin Electric during the 4th quarter worth approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in Franklin Electric by 31.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after buying an additional 101 shares during the period. Farther Finance Advisors LLC lifted its stake in Franklin Electric by 213.1% in the fourth quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after buying an additional 309 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Franklin Electric in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FELE. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. DA Davidson reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Franklin Electric in a research report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $106.00.

Insiders Place Their Bets

In other news, insider Delancey W. Davis sold 1,900 shares of the 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 transaction, the insider directly owned 10,402 shares in the company, valued at $1,040,200. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan M. Grandon sold 8,547 shares of the firm’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 completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,835 shares of company stock valued at $2,004,982. 2.89% of the stock is owned by insiders.

Franklin Electric Stock Down 0.3%

Shares of Franklin Electric stock opened at $103.93 on Wednesday. The firm has a market cap of $4.59 billion, a PE ratio of 31.30, a P/E/G ratio of 1.90 and a beta of 1.03. The business’s 50 day simple moving average is $102.00 and its 200 day simple moving average is $99.83. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.14 and a current ratio of 2.67. Franklin Electric Co., Inc. has a 52-week low of $89.54 and a 52-week high of $111.53.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The firm had revenue of $500.44 million during the quarter, compared to the consensus estimate of $479.21 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The business’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. On average, analysts predict that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is 33.73%.

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.