Allspring Global Investments Holdings LLC Lowers Position in Franklin Electric Co., Inc. $FELE

Allspring Global Investments Holdings LLC trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,857,580 shares of the industrial products company’s stock after selling 151,857 shares during the quarter. Allspring Global Investments Holdings LLC owned 4.17% of Franklin Electric worth $180,185,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FELE. Y Intercept Hong Kong Ltd purchased a new position in shares of Franklin Electric in the 3rd quarter valued at about $1,181,000. AlphaQuest LLC boosted its holdings in Franklin Electric by 38.7% during the third quarter. AlphaQuest LLC now owns 45,466 shares of the industrial products company’s stock worth $4,328,000 after buying an additional 12,675 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Franklin Electric by 11.8% during the third quarter. Alps Advisors Inc. now owns 90,086 shares of the industrial products company’s stock worth $8,576,000 after buying an additional 9,528 shares in the last quarter. Public Sector Pension Investment Board grew its position in Franklin Electric by 11.5% during the third quarter. Public Sector Pension Investment Board now owns 149,192 shares of the industrial products company’s stock worth $14,203,000 after buying an additional 15,387 shares during the period. Finally, UniSuper Management Pty Ltd increased its holdings in Franklin Electric by 94.3% in the third quarter. UniSuper Management Pty Ltd now owns 118,497 shares of the industrial products company’s stock valued at $11,281,000 after buying an additional 57,518 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson set a $100.00 price target on shares of Franklin Electric in a research report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Franklin Electric from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.00.

Franklin Electric Price Performance

FELE stock opened at $90.54 on Tuesday. The stock’s 50 day moving average price is $98.15 and its 200 day moving average price is $96.71. The firm has a market cap of $4.00 billion, a P/E ratio of 28.12, a PEG ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.18 and a current ratio of 2.79. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.53.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, February 17th. The industrial products company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The company had revenue of $506.86 million during the quarter, compared to analyst estimates of $516.25 million. Franklin Electric had a return on equity of 14.52% and a net margin of 6.90%.The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. This is an increase from Franklin Electric’s previous quarterly dividend of $0.27. Franklin Electric’s dividend payout ratio is 34.78%.

Insider Activity

In other news, CEO Joseph A. Ruzynski purchased 500 shares of the stock in a transaction dated Thursday, February 19th. The stock was acquired at an average cost of $93.34 per share, for a total transaction of $46,670.00. Following the completion of the acquisition, the chief executive officer directly owned 22,722 shares in the company, valued at $2,120,871.48. This represents a 2.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is owned by corporate 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.