11,354 Shares in Franklin Electric Co., Inc. $FELE Bought by Moody National Bank Trust Division

by · The Cerbat Gem

Moody National Bank Trust Division acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,354 shares of the industrial products company’s stock, valued at approximately $1,081,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Franklin Electric by 1.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,075,516 shares of the industrial products company’s stock worth $190,480,000 after purchasing an additional 29,982 shares in the last quarter. First Trust Advisors LP grew its stake in Franklin Electric by 44.9% during the 2nd quarter. First Trust Advisors LP now owns 1,552,097 shares of the industrial products company’s stock worth $139,285,000 after buying an additional 481,108 shares during the last quarter. Impax Asset Management Group plc increased its position in Franklin Electric by 47.8% during the second quarter. Impax Asset Management Group plc now owns 1,246,729 shares of the industrial products company’s stock worth $111,881,000 after buying an additional 403,115 shares during the period. Invesco Ltd. lifted its stake in Franklin Electric by 9.2% in the second quarter. Invesco Ltd. now owns 607,040 shares of the industrial products company’s stock valued at $54,476,000 after buying an additional 50,895 shares during the last quarter. Finally, Norges Bank purchased a new stake in Franklin Electric in the second quarter valued at approximately $45,701,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Stock Report on FELE

Franklin Electric Trading Down 0.2%

NASDAQ:FELE opened at $97.30 on Thursday. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $108.08. The company has a current ratio of 2.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $95.01 and its 200-day simple moving average is $93.67. The firm has a market cap of $4.33 billion, a P/E ratio of 31.69, a PEG ratio of 1.95 and a beta of 1.07.

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

Franklin Electric Announces Dividend

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

Franklin Electric Profile

(Free Report)

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.

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