Franklin Electric (FELE) Declares $0.22 Dividend

Franklin Electric said on April 24, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.90 annualized). Previously, the company paid $0.22 per share.

Shares must be purchased before the ex-div date of May 3, 2023 to qualify for the dividend. Shareholders of record as of May 4, 2023 will receive the payment on May 18, 2023.

At the current share price of $90.04 / share, the stock's dividend yield is 1.00%. Looking back five years and taking a sample every week, the average dividend yield has been 1.02%, the lowest has been 0.73%, and the highest has been 1.39%. The standard deviation of yields is 0.15 (n=237).

The current dividend yield is 0.16 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.22. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.45%, demonstrating that it has increased its dividend over time.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 586 funds or institutions reporting positions in Franklin Electric. This is an increase of 12 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to FELE is 0.23%, an increase of 2.42%. Total shares owned by institutions increased in the last three months by 0.51% to 43,628K shares. The put/call ratio of FELE is 1.23, indicating a bearish outlook.

Analyst Price Forecast Suggests 8.75% Upside

As of April 24, 2023, the average one-year price target for Franklin Electric is 97.92. The forecasts range from a low of 85.85 to a high of $115.50. The average price target represents an increase of 8.75% from its latest reported closing price of 90.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Franklin Electric is 2,062MM, an increase of 0.89%. The projected annual non-GAAP EPS is 4.27.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,883K shares representing 6.24% ownership of the company. In it's prior filing, the firm reported owning 2,842K shares, representing an increase of 1.42%. The firm decreased its portfolio allocation in FELE by 9.93% over the last quarter.

Earnest Partners holds 2,276K shares representing 4.92% ownership of the company. In it's prior filing, the firm reported owning 2,329K shares, representing a decrease of 2.34%. The firm decreased its portfolio allocation in FELE by 12.98% over the last quarter.

Allspring Global Investments Holdings holds 1,991K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 2,110K shares, representing a decrease of 6.00%. The firm increased its portfolio allocation in FELE by 8.02% over the last quarter.

ESPAX - Wells Fargo Special Small Cap Value Fund holds 1,709K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 1,712K shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in FELE by 9.83% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,196K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 1,183K shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in FELE by 8.88% over the last quarter.

Franklin Electric Background Information
(This description is provided by the company.)

Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and fuel. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.

This story originally appeared on Fintel.