Franklin Electric Co., Inc. (NASDAQ:FELE) Announces Quarterly Dividend of $0.28

Key Points

• Franklin Electric declared a quarterly dividend of $0.28 per share, payable November 19 to shareholders of record November 5. The annualized dividend is $1.12 per share, yielding approximately 1.1%.
• The company has raised its dividend for 33 consecutive years, with a 23.9% payout ratio, indicating that earnings comfortably cover the dividend.
• Franklin Electric recently exceeded quarterly earnings expectations, reporting $1.55 in EPS versus the $1.44 consensus and revenue of $622.88 million. Despite some analyst upgrades, the stock retains a consensus “Hold” rating with a $114.50 price target.

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) announced a quarterly dividend on Monday, October 26th. Investors of record on Thursday, November 5th will be paid a dividend of $0.28 per share by the industrial products company on Thursday, November 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th.

Franklin Electric has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 33 years. Franklin Electric has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 21.5%.

Franklin Electric Trading Up 0.3%

Franklin Electric stock traded up $0.25 during midday trading on Monday, hitting $98.61. 287,026 shares of the stock were exchanged, compared to its average volume of 308,847. The stock has a market capitalization of $4.36 billion, a PE ratio of 28.42, a P/E/G ratio of 1.76 and a beta of 1.03. The company has a fifty day simple moving average of $98.97 and a two-hundred day simple moving average of $101.31. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Equities research analysts anticipate that Franklin Electric will post 4.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Franklin Electric from a "hold" rating to a "buy" rating in a research report on Sunday. Weiss Ratings raised shares of Franklin Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 14th. DA Davidson reiterated a "neutral" rating and issued a $105.00 price target on shares of Franklin Electric in a research note on Wednesday, September 9th. Finally, Robert W. Baird raised their price objective on Franklin Electric from $118.00 to $124.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Franklin Electric presently has a consensus rating of "Hold" and a consensus price target of $114.50.

Franklin Electric Company Profile

Franklin Electric Co, Inc NASDAQ: FELE designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.

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