Who Owns Franklin Electric Company?

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Who Owns Franklin Electric Company?

Franklin Electric's ownership structure is key to its strategy and market standing. A recent event on June 13, 2025, saw the company repurchase 1.2 million shares from the Patricia Schaefer Settlement Trust, highlighting its financial health and support for the founder's family.

Founded in 1944, Franklin Electric has evolved significantly, moving from early innovations like backpack generators to becoming a global leader in water and fuel movement systems. Its product portfolio includes submersible motors, pumps, and drives, contributing to its 2023 revenue of $2.1 billion.

Understanding the company's ownership journey, from its founders to its current mix of public and institutional investors, offers vital insights into its governance and future direction in the global market. This includes analyzing how products like those analyzed in the Franklin Electric BCG Matrix fit into the company's overall strategy.

Franklin Electric Company was founded in November 1944 by E.J. Schaefer and T.W. Kehoe, two experienced electrical engineers. They established the company in Bluffton, Indiana, with an initial investment of less than $20,000. Their wives were also involved as business partners in the early stages of the company.

Founding Engineers

E.J. Schaefer (Ed) and T.W. Kehoe (Wayne) established Franklin Electric in 1944. Both were seasoned electrical engineers in their 40s at the time of founding.

Initial Capital

The company's startup capital was less than $20,000. Their wives were also active business partners from the outset.

Early Focus

Initially, the company specialized in customer-specific specialty motors. Their first product was a backpack generator designed for paratroopers during World War II.

Post-War Pivot

Following World War II, Franklin Electric shifted its focus to fractional horsepower motors for residential water pumps. This move capitalized on the post-war housing boom.

Early Success

By 1947, sales had reached nearly $1.7 million with profits around $250,000. The company formally incorporated in 1946.

Innovation

In 1949, Franklin Electric patented the first practical submersible motor that utilized water as a lubricant. T.W. Kehoe, a co-founder, passed away in May 1966.

The founders' strategic vision was to serve a national market, as evidenced by their decision not to name the company after themselves. This forward-thinking approach laid the groundwork for the company's future growth and market penetration, influencing its Target Market of Franklin Electric.

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Franklin Electric (NASDAQ: FELE) is a publicly traded entity, with its shares actively traded on the Nasdaq exchange. The company's ownership structure is largely dominated by institutional investors, reflecting broad confidence in its market position and future prospects.

The ownership landscape of Franklin Electric is primarily shaped by significant holdings from major institutional investors. As of March 3, 2025, BlackRock, Inc. held 7,306,950 shares, representing 15.96% of the company's common stock. The Vanguard Group followed with 4,769,582 shares, accounting for 10.42%. Mutual funds collectively own 42.2% of the company's stock, with foreign institutions holding an additional 12.4%. As of December 31, 2024, BlackRock, Inc. exercised sole voting power over 7,203,934 shares and sole dispositive power over 7,306,950 shares. The company's own employee stock ownership plan (ESOP) and 401(k) plan held 329,108 shares of common stock as of the same date.

Key Ownership Developments

Franklin Electric has experienced notable shifts in its ownership structure, often driven by strategic corporate actions. These include significant share repurchases designed to enhance shareholder value and manage capital effectively.

• In June 2025, Franklin Electric executed a share repurchase of 1,200,000 shares at $86.78 per share.
• This transaction, valued at $104.1 million, was with the Patricia Schaefer Settlement Trust.
• The trust was established by the daughter of the company's founder, indicating a strategic move to provide liquidity for estate tax obligations.
• This repurchase underscores the company's robust financial standing and its commitment to managing its equity structure.
• Understanding these transactions is crucial for investors analyzing the Competitors Landscape of Franklin Electric and its long-term strategy.

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The governance of Franklin Electric Company is overseen by its Board of Directors, with Jennifer L. Sherman currently serving as Chairperson. Joe Ruzynski, the company’s CEO since July 2024, works collaboratively with Sherman to guide the company’s strategic direction. This structure separates the CEO and Board Chair roles, a common practice in modern corporate governance.

The average tenure of Franklin Electric’s board members is approximately 4.9 years as of August 2025. Shareholders of Franklin Electric Company have voting power based on the number of common stock shares they hold, with each share granting one vote on matters presented to shareholders. There is no provision for cumulative voting in director elections. As of March 3, 2025, the company had 45,780,415 shares of common stock outstanding. Franklin Electric’s authorized share structure includes 65,000,000 shares of common stock, and while it also authorizes preference and preferred stock, none were outstanding as of December 31, 2020.

Understanding Franklin Electric Ownership

Franklin Electric ownership is primarily determined by its common stock shareholders. Institutional investors often hold significant portions of publicly traded companies like Franklin Electric.

• Each common share entitles the holder to one vote.
• No cumulative voting is in place for director elections.
• Understanding the Growth Strategy of Franklin Electric can provide context for investor decisions.
• The company has authorized but not outstanding preferred stock.

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Franklin Electric has experienced significant ownership and leadership transitions over the past few years. These changes reflect strategic capital management and evolving corporate governance, impacting the landscape of who owns Franklin Electric.

Institutional investors now hold a dominant position in Franklin Electric Company's shareholder base, with approximately 84.4% of shares as of July 25, 2025. Major players like BlackRock, Inc. and The Vanguard Group, Inc. maintain significant holdings, underscoring the broad institutional interest in Franklin Electric stock. Insider ownership, while smaller at about 1.33% in July 2025, generally signifies alignment between management and shareholders, even with some observed insider selling activity. The company's financial performance remains robust, with Q2 2025 sales reaching $587.4 million, an 8% increase, and operating income rising 11% to $88.1 million. This performance supports the full-year sales guidance of $2.090 billion to $2.150 billion for 2025, indicating continued operational strength and a clear understanding of the Revenue Streams & Business Model of Franklin Electric.

Institutional Dominance in Franklin Electric Ownership

Institutional investors account for a substantial 84.4% of Franklin Electric's shares as of July 2025. Leading asset managers like BlackRock and Vanguard are key holders.

Recent Capital Allocation Strategies

The company actively manages its capital, evidenced by a $104.1 million stock repurchase in June 2025 and significant spending on acquisitions in Q2 2025.

Leadership Evolution at Franklin Electric

Key leadership changes occurred in 2024 and 2025, including a new CEO, Chairperson, CFO, and CHRO. These appointments shape the company's strategic direction.

Financial Performance and Outlook

Franklin Electric reported strong Q2 2025 results with 8% sales growth and reaffirmed its full-year sales guidance. This indicates a positive financial trajectory.

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