Assenagon Asset Management S.A. Purchases 93,886 Shares of Franklin Electric Co., Inc. $FELE

Assenagon Asset Management S.A. grew its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 81.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,605 shares of the industrial products company’s stock after buying an additional 93,886 shares during the quarter. Assenagon Asset Management S.A. owned 0.47% of Franklin Electric worth $19,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Select Equity Group L.P. purchased a new stake in Franklin Electric in the first quarter worth about $8,696,000. Intech Investment Management LLC increased its position in Franklin Electric by 11.0% during the 2nd quarter. Intech Investment Management LLC now owns 40,280 shares of the industrial products company’s stock valued at $3,615,000 after purchasing an additional 3,986 shares during the period. Marks Group Wealth Management Inc raised its holdings in shares of Franklin Electric by 13.0% in the 2nd quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock valued at $8,331,000 after purchasing an additional 10,692 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Franklin Electric by 220.2% in the 2nd quarter. Entropy Technologies LP now owns 8,288 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 5,700 shares during the period. Finally, First Merchants Corp lifted its position in shares of Franklin Electric by 1.2% in the 2nd quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock worth $22,551,000 after purchasing an additional 2,881 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

NASDAQ FELE opened at $97.32 on Friday. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.96 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.12. The stock’s fifty day moving average price is $95.22 and its 200 day moving average price is $93.78. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $108.08.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.01. The business had revenue of $581.71 million for the quarter, compared to the consensus estimate of $563.18 million. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 EPS. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on FELE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a report on Monday. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Robert W. Baird set a $112.00 price target on Franklin Electric in a report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.00.

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.