Boston Trust Walden Corp Decreases Position in Franklin Electric Co., Inc. $FELE

Key Points

• Boston Trust Walden Corp reduced its stake in Franklin Electric Co., Inc. by 2.4%, owning approximately 1.37% of the company valued at about $55.96 million as of the last reporting period.
• Multiple hedge funds have recently modified their holdings in Franklin Electric, with approximately 79.98% of the stock currently controlled by institutional investors.
• Franklin Electric has set guidance for FY 2025 EPS between $3.950 and $4.250 and reported $1.31 earnings per share for the last quarter, exceeding estimates.

Boston Trust Walden Corp reduced its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 623,633 shares of the industrial products company's stock after selling 15,423 shares during the period. Boston Trust Walden Corp owned approximately 1.37% of Franklin Electric worth $55,965,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts 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 note on Saturday, August 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Franklin Electric in a report on Saturday, September 27th. Finally, Robert W. Baird increased their target price on Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric has an average rating of "Hold" and an average price target of $107.00.

Franklin Electric Stock Performance

NASDAQ FELE opened at $92.84 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The company has a market capitalization of $4.13 billion, a PE ratio of 23.99, a P/E/G ratio of 1.85 and a beta of 1.08. The company has a fifty day moving average of $95.71 and a two-hundred day moving average of $91.30.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%.The business had revenue of $587.43 million during the quarter, compared to the consensus estimate of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. As a group, analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric's dividend payout ratio (DPR) is 27.39%.

Insider Activity

In other news, insider Jonathan M. Grandon sold 10,036 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total transaction of $983,829.08. Following the transaction, the insider directly owned 8,171 shares in the company, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.72% of the company's stock.

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.

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