Hsbc Holdings PLC Grows Stake in Franklin Electric Co., Inc. $FELE

Hsbc Holdings PLC raised its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 29.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,069 shares of the industrial products company’s stock after purchasing an additional 6,122 shares during the period. Hsbc Holdings PLC owned about 0.06% of Franklin Electric worth $2,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Franklin Electric during the third quarter valued at $28,000. Aster Capital Management DIFC Ltd purchased a new stake in Franklin Electric in the fourth quarter worth about $35,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 101 shares in the last quarter. Farther Finance Advisors LLC grew 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 acquiring an additional 309 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Franklin Electric during the 4th quarter valued at about $48,000. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FELE has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a report on Tuesday, June 9th. DA Davidson reissued a “neutral” rating and set a $100.00 price objective on shares of Franklin Electric in a report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric currently has a consensus rating of “Hold” and an average target price of $106.00.

Insider Buying and Selling at Franklin Electric

In other news, insider Jonathan M. Grandon sold 8,547 shares of the firm’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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Delancey W. Davis sold 1,900 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $100.00, for a total value of $190,000.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,835 shares of company stock valued at $2,004,982. Company insiders own 2.89% of the company’s stock.

Franklin Electric Price Performance

FELE opened at $105.59 on Friday. The business’s 50-day moving average is $102.48 and its two-hundred day moving average is $100.00. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $111.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.67 and a quick ratio of 1.14. The firm has a market capitalization of $4.66 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03.

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

Franklin Electric Announces Dividend

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