Bank of Montreal Can Trims Position in Franklin Electric Co., Inc. $FELE

Bank of Montreal Can cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 46.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,019 shares of the industrial products company’s stock after selling 11,130 shares during the period. Bank of Montreal Can’s holdings in Franklin Electric were worth $1,168,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in Franklin Electric during the 1st quarter worth approximately $41,837,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Franklin Electric during the 1st quarter valued at $12,592,000. Jones Financial Companies Lllp bought a new position in shares of Franklin Electric in the first quarter worth $10,005,000. Select Equity Group L.P. purchased a new stake in shares of Franklin Electric in the first quarter worth $8,696,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Franklin Electric during the first quarter valued at $7,798,000. 79.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FELE shares. Robert W. Baird set a $112.00 target price on Franklin Electric in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Franklin Electric in a research report on Wednesday. Finally, Wall Street Zen cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.00.

Franklin Electric Trading Down 0.6%

FELE stock opened at $93.11 on Friday. The company has a market capitalization of $4.14 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 2.54. Franklin Electric Co., Inc. has a one year low of $78.87 and a one year high of $111.94. The company’s 50 day moving average price is $95.31 and its two-hundred day moving average price is $92.46.

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

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a $0.265 dividend. The ex-dividend date is Thursday, November 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.1%. Franklin Electric’s payout ratio is currently 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.