Hsbc Holdings PLC Acquires New Shares in Franklin Electric Co., Inc. $FELE

Hsbc Holdings PLC acquired a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, Holdings Channel.com reports. The fund acquired 11,543 shares of the industrial products company’s stock, valued at approximately $1,238,000.

Several other large investors have also added to or reduced their stakes in FELE. BlackRock Inc. purchased a new stake in shares of Franklin Electric in the second quarter worth about $698,173,000. Norges Bank purchased a new position in Franklin Electric during the fourth quarter valued at approximately $50,010,000. Amundi grew its stake in Franklin Electric by 134.8% during the third quarter. Amundi now owns 624,481 shares of the industrial products company’s stock valued at $59,424,000 after acquiring an additional 358,517 shares in the last quarter. Legal & General Group Plc bought a new stake in Franklin Electric during the 2nd quarter worth approximately $33,805,000. Finally, Bank of New York Mellon Corp bought a new stake in Franklin Electric during the 2nd quarter worth approximately $33,230,000. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

NASDAQ:FELE opened at $100.09 on Tuesday. The stock has a market cap of $4.42 billion, a P/E ratio of 28.84, a PEG ratio of 1.80 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $105.09 and its two-hundred day moving average price is $100.74. Franklin Electric Co., Inc. has a twelve month low of $89.54 and a twelve month high of $115.82.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. The company had revenue of $622.88 million during 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%.Franklin Electric’s revenue was up 6.0% on a year-over-year basis. During the same quarter 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. As a group, equities analysts predict that Franklin Electric Co., Inc. will post 4.65 EPS for the current fiscal year.

Franklin Electric Announces Dividend

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

Analyst Upgrades and Downgrades

FELE has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. DA Davidson boosted their price target on shares of Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird upped their price target on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Three 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 price target of $114.50.

Insider Transactions at Franklin Electric

In other Franklin Electric 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 value of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.89% of the stock is currently owned by insiders.

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.