Renaissance Technologies LLC Has $2.48 Million Position in Franklin Electric Co., Inc. $FELE

Renaissance Technologies LLC lessened its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 73.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,900 shares of the industrial products company’s stock after selling 75,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of Franklin Electric worth $2,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Franklin Electric in the third quarter worth $28,000. Aster Capital Management DIFC Ltd bought a new position in Franklin Electric during the 4th quarter worth $35,000. EverSource Wealth Advisors LLC raised its position 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 purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Franklin Electric by 213.1% during the 4th quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock worth $43,000 after buying an additional 309 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Franklin Electric during the 4th quarter worth about $48,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 8,547 shares of Franklin Electric stock in a transaction on 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 sale, the insider owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of Franklin Electric 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 transaction, the insider owned 10,402 shares of the company’s stock, valued at $1,040,200. This represents a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,647 shares of company stock worth $1,486,326. 2.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FELE shares. Robert W. Baird increased their price target on Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. DA Davidson lifted their price objective on Franklin Electric from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.50.

Franklin Electric Price Performance

Shares of NASDAQ:FELE opened at $109.46 on Monday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. The business’s 50-day moving average is $104.32 and its 200-day moving average is $100.55. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $115.82.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $622.88 million for the quarter, compared to analyst estimates of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Equities research analysts predict that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th will be issued a $0.28 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.0%. Franklin Electric’s dividend payout ratio is presently 32.28%.

Franklin Electric 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.