24,721 Shares in Franklin Electric Co., Inc. $FELE Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, HoldingsChannel reports. The fund purchased 24,721 shares of the industrial products company’s stock, valued at approximately $2,650,000.

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

Franklin Electric Trading Down 0.9%

Shares of FELE stock opened at $103.15 on Tuesday. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 1.87 and a beta of 1.04. The company’s fifty day simple moving average is $105.34 and its two-hundred day simple moving average is $100.92. Franklin Electric Co., Inc. has a 1 year low of $89.54 and a 1 year high of $115.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10.

Franklin Electric (NASDAQ:FELE) last posted 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. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The firm had revenue of $622.88 million during the quarter, compared to analyst estimates of $605.92 million. During the same period last year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, August 6th. Franklin Electric’s dividend payout ratio (DPR) is 32.28%.

Insider Buying and Selling

In related news, insider Jonathan M. Grandon sold 8,547 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.89% of the company’s stock.

Analysts Set New Price Targets

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

Franklin Electric Company 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.