KBC Group NV Reduces Stake in Franklin Electric Co., Inc. $FELE

KBC Group NV lowered its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 19.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,960 shares of the industrial products company’s stock after selling 75,141 shares during the quarter. KBC Group NV owned approximately 0.70% of Franklin Electric worth $28,085,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FELE. Select Equity Group L.P. purchased a new position in Franklin Electric during the first quarter valued at $8,696,000. Marks Group Wealth Management Inc raised its stake in shares of Franklin Electric by 13.0% in the second quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock worth $8,331,000 after buying an additional 10,692 shares during the period. First Merchants Corp lifted its position in shares of Franklin Electric by 1.2% during the 2nd quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock valued at $22,551,000 after buying an additional 2,881 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Franklin Electric by 8.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,870 shares of the industrial products company’s stock valued at $3,274,000 after acquiring an additional 2,675 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in Franklin Electric in the 1st quarter worth approximately $10,005,000. Institutional investors own 79.98% of the company’s stock.

Analyst Ratings Changes

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

Franklin Electric Stock Performance

Shares of NASDAQ:FELE opened at $93.67 on Friday. The company has a current ratio of 2.54, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 12 month low of $78.87 and a 12 month high of $111.94. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.91 and a beta of 1.09. The firm’s 50-day moving average is $95.40 and its 200 day moving average is $92.42.

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

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Franklin Electric’s dividend 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.