Franklin Electric Co., Inc. $FELE Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 120.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,089 shares of the industrial products company’s stock after purchasing an additional 8,234 shares during the period. Hsbc Holdings PLC’s holdings in Franklin Electric were worth $1,354,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FELE. Nuveen LLC purchased a new position in shares of Franklin Electric during the 1st quarter worth approximately $41,837,000. Impax Asset Management Group plc grew its holdings in Franklin Electric by 47.8% during the second quarter. Impax Asset Management Group plc now owns 1,246,729 shares of the industrial products company’s stock worth $111,881,000 after acquiring an additional 403,115 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Franklin Electric in the first quarter worth $12,592,000. Jones Financial Companies Lllp acquired a new stake in Franklin Electric in the first quarter valued at $10,005,000. Finally, Select Equity Group L.P. purchased a new stake in shares of Franklin Electric during the 1st quarter worth $8,696,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FELE shares. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 1st. Finally, Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $112.00.

Franklin Electric Trading Down 0.6%

Franklin Electric stock opened at $93.51 on Tuesday. The stock has a 50-day moving average price of $94.88 and a 200 day moving average price of $93.22. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $109.97. The stock has a market cap of $4.16 billion, a PE ratio of 30.46, a P/E/G ratio of 1.89 and a beta of 1.07. The company has a current ratio of 2.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results 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 company had revenue of $581.71 million for the quarter, compared to analysts’ expectations of $563.18 million. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.17 EPS. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Equities research analysts predict that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were issued a $0.265 dividend. The ex-dividend date was Thursday, November 6th. This represents a $1.06 annualized dividend and a yield of 1.1%. Franklin Electric’s payout ratio is 34.53%.

Franklin Electric Company Profile

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.