Rhumbline Advisers Has $13.50 Million Holdings in Franklin Electric Co., Inc. $FELE

Rhumbline Advisers lifted its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 3.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 150,452 shares of the industrial products company’s stock after buying an additional 4,542 shares during the period. Rhumbline Advisers’ holdings in Franklin Electric were worth $13,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FELE. MAI Capital Management boosted its holdings in Franklin Electric by 36.5% in the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 131 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Franklin Electric during the 1st quarter worth about $46,000. Covestor Ltd raised its position in shares of Franklin Electric by 27.4% during the first quarter. Covestor Ltd now owns 731 shares of the industrial products company’s stock valued at $69,000 after buying an additional 157 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Franklin Electric by 42.2% during the first quarter. Smartleaf Asset Management LLC now owns 913 shares of the industrial products company’s stock valued at $86,000 after buying an additional 271 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Franklin Electric by 57.4% in the second quarter. CWM LLC now owns 1,849 shares of the industrial products company’s stock valued at $166,000 after buying an additional 674 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Price Performance

Franklin Electric stock opened at $95.15 on Friday. The business has a 50 day simple moving average of $94.89 and a 200 day simple moving average of $92.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 0.77. The company has a market capitalization of $4.24 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. Franklin Electric Co., Inc. has a one year low of $78.87 and a one year high of $110.42.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.01. The firm had revenue of $581.71 million during the quarter, compared to analyst estimates of $563.18 million. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, November 6th. Franklin Electric’s dividend payout ratio (DPR) is currently 34.53%.

Analysts Set New Price Targets

FELE has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research note on Monday, November 24th. Robert W. Baird set a $112.00 price objective on Franklin Electric in a research report on Wednesday, October 29th. Finally, Wall Street Zen cut Franklin Electric from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.00.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.