Franklin Electric Co. (FELE) Receives Consensus Rating of “Hold” from Analysts

Franklin Electric Co. (NASDAQ:FELE) has received an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $48.00.

A number of equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th.

In other news, VP Steven William Aikman sold 1,500 shares of Franklin Electric stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $50.21, for a total transaction of $75,315.00. Following the completion of the sale, the vice president now directly owns 16,515 shares in the company, valued at approximately $829,218.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.52% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Franklin Electric by 7.9% during the 2nd quarter. BlackRock Inc. now owns 5,791,470 shares of the industrial products company’s stock worth $261,196,000 after purchasing an additional 424,345 shares during the last quarter. Earnest Partners LLC raised its position in shares of Franklin Electric by 0.3% during the 2nd quarter. Earnest Partners LLC now owns 2,137,877 shares of the industrial products company’s stock worth $96,418,000 after purchasing an additional 6,258 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Franklin Electric by 1.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,865,402 shares of the industrial products company’s stock worth $88,140,000 after purchasing an additional 20,674 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Franklin Electric by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,705,353 shares of the industrial products company’s stock worth $76,912,000 after purchasing an additional 32,696 shares during the last quarter. Finally, Channing Capital Management LLC raised its position in shares of Franklin Electric by 12.7% during the 2nd quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock worth $62,818,000 after purchasing an additional 156,908 shares during the last quarter. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Shares of FELE stock traded up $1.03 during midday trading on Wednesday, reaching $45.96. 89,500 shares of the company traded hands, compared to its average volume of 118,018. Franklin Electric has a 1-year low of $38.45 and a 1-year high of $51.45. The company has a current ratio of 2.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.31 and a beta of 1.60.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). Franklin Electric had a net margin of 7.07% and a return on equity of 14.22%. The company had revenue of $341.87 million for the quarter, compared to analyst estimates of $342.18 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. Franklin Electric’s revenue was up 9.9% on a year-over-year basis. Sell-side analysts forecast that Franklin Electric will post 2.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. Franklin Electric’s payout ratio is 25.00%.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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Analyst Recommendations for Franklin Electric (NASDAQ:FELE)

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