21,068 Shares in Franklin Electric Co., Inc. $FELE Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the second quarter, HoldingsChannel.com reports. The firm bought 21,068 shares of the industrial products company’s stock, valued at approximately $2,258,000.

A number of other hedge funds also recently bought and sold shares of FELE. Royal Bank of Canada grew its position in shares of Franklin Electric by 81.6% in the first quarter. Royal Bank of Canada now owns 3,997 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 1,796 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Franklin Electric by 105.5% during the 1st quarter. AQR Capital Management LLC now owns 25,463 shares of the industrial products company’s stock worth $2,390,000 after purchasing an additional 13,075 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Franklin Electric by 30.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,760 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 1,349 shares during the last quarter. United Services Automobile Association bought a new stake in Franklin Electric during the 1st quarter valued at approximately $243,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Franklin Electric by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 137,162 shares of the industrial products company’s stock valued at $12,877,000 after purchasing an additional 10,862 shares during the period. 79.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Franklin Electric 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 sale, the insider directly owned 7,509 shares in the company, valued at $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.89% of the stock is currently owned by corporate insiders.

Franklin Electric Stock Performance

NASDAQ FELE opened at $97.59 on Thursday. The stock has a market cap of $4.31 billion, a P/E ratio of 28.12, a PEG ratio of 1.76 and a beta of 1.03. The company’s 50-day simple moving average is $104.84 and its 200 day simple moving average is $100.57. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $622.88 million during the quarter, compared to analysts’ expectations 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 last year, the company earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

FELE has been the topic of a number of research analyst reports. Robert W. Baird raised 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. Weiss Ratings raised shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, DA Davidson raised their price target on shares of Franklin Electric from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.50.

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.