Corient Private Wealth LP Invests $2.05 Million in Franklin Electric Co., Inc. $FELE

Corient Private Wealth LP acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,128 shares of the industrial products company’s stock, valued at approximately $2,050,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Franklin Electric in the second quarter worth approximately $698,173,000. Morgan Stanley lifted its holdings in shares of Franklin Electric by 0.5% during the 4th quarter. Morgan Stanley now owns 1,790,205 shares of the industrial products company’s stock valued at $171,019,000 after buying an additional 8,356 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Franklin Electric by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock valued at $93,059,000 after buying an additional 36,268 shares during the period. Amundi lifted its holdings in shares of Franklin Electric by 25.2% during the 1st quarter. Amundi now owns 881,425 shares of the industrial products company’s stock valued at $81,225,000 after buying an additional 177,433 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Franklin Electric by 11.0% in the 1st quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company’s stock worth $75,956,000 after buying an additional 81,988 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FELE. Weiss Ratings raised Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. DA Davidson increased their target price on Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Robert W. Baird raised their target price on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Down 0.9%

FELE opened at $97.59 on Thursday. The firm’s 50 day simple moving average is $104.84 and its two-hundred day simple moving average is $100.57. The company has a market capitalization of $4.31 billion, a PE ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.02. Franklin Electric Co., Inc. has a 1-year low of $89.54 and a 1-year high of $115.82. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last issued 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 firm had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, equities analysts forecast that Franklin Electric Co., Inc. will post 4.65 EPS for the current year.

Franklin Electric Announces Dividend

The business also recently declared 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 dividend payout ratio is presently 32.28%.

Insider Buying and Selling

In other news, insider Jonathan M. Grandon sold 8,547 shares of the firm’s stock in a transaction dated 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 trade represents a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.89% of the stock is currently owned by insiders.

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.