Summit Global Investments Invests $922,000 in Franklin Electric Co., Inc. $FELE

Summit Global Investments acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,599 shares of the industrial products company’s stock, valued at approximately $922,000.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Franklin Electric during the 3rd quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new position in Franklin Electric during the 4th quarter valued at about $35,000. EverSource Wealth Advisors LLC increased 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 valued at $38,000 after buying an additional 101 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Franklin Electric by 213.1% in the fourth quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after buying an additional 309 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Franklin Electric in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FELE. Robert W. Baird boosted their price target 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 increased their price objective 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. 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. 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 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 Price Performance

NASDAQ FELE opened at $105.77 on Friday. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.90 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 stock’s fifty day moving average price is $105.15 and its 200 day moving average price is $100.78. 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 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 company had revenue of $622.88 million during the quarter, compared to analysts’ expectations of $605.92 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.65 earnings per share for the current year.

Franklin Electric Dividend Announcement

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

Insider Activity

In related news, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction that occurred on 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 owned 10,402 shares in the company, valued at approximately $1,040,200. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 in the company, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,647 shares of company stock valued at $1,486,326. Company insiders own 2.89% of the company’s stock.

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.