According to Zacks, “Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Franklin Electric has produced high-quality industrial pumps, filters and accessories. By introducing the new Little Giant PondWorks program, Franklin Electric now brings the same exceptional knowledge, experience, and quality to the recreational water gardening and outdoor living markets. “
FELE has been the subject of several other research reports. Boenning Scattergood downgraded shares of Franklin Electric from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 23rd. ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, BidaskClub downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.
Shares of FELE stock opened at $45.66 on Wednesday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 4.16 and a beta of 1.31. Franklin Electric has a 52 week low of $38.87 and a 52 week high of $55.59. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $45.94 and a 200-day moving average of $48.14.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.04). The company had revenue of $355.30 million for the quarter, compared to analyst estimates of $358.31 million. Franklin Electric had a return on equity of 13.17% and a net margin of 7.36%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. Analysts anticipate that Franklin Electric will post 2.21 earnings per share for the current year.
In related news, VP Donald P. Kenney sold 1,313 shares of Franklin Electric stock in a transaction on Friday, June 14th. The shares were sold at an average price of $46.21, for a total value of $60,673.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John J. Haines sold 18,600 shares of Franklin Electric stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $47.07, for a total transaction of $875,502.00. Following the completion of the sale, the vice president now directly owns 64,043 shares of the company’s stock, valued at approximately $3,014,504.01. The disclosure for this sale can be found here. Company insiders own 2.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Franklin Electric by 0.5% in the 2nd quarter. BlackRock Inc. now owns 6,141,278 shares of the industrial products company’s stock valued at $291,711,000 after purchasing an additional 30,506 shares during the period. Impax Asset Management Group plc grew its position in Franklin Electric by 10.1% in the 2nd quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock valued at $136,461,000 after purchasing an additional 263,676 shares during the period. Earnest Partners LLC grew its position in Franklin Electric by 0.9% in the 2nd quarter. Earnest Partners LLC now owns 2,130,166 shares of the industrial products company’s stock valued at $101,183,000 after purchasing an additional 19,417 shares during the period. Wells Fargo & Company MN grew its position in Franklin Electric by 8.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock valued at $95,840,000 after purchasing an additional 158,355 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Franklin Electric by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,705,695 shares of the industrial products company’s stock valued at $73,140,000 after purchasing an additional 5,165 shares during the period. 77.94% of the stock is owned by institutional investors and hedge funds.
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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