Franklin Electric Co., Inc. (NASDAQ:FELE) Short Interest Down 22.4% in December

Franklin Electric Co., Inc. (NASDAQ:FELE) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 600,718 shares, a drop of 22.4% from the November 30th total of 773,703 shares. Based on an average daily volume of 229,784 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.4% of the shares of the company are short sold. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 229,784 shares, the days-to-cover ratio is currently 2.6 days.

Franklin Electric Stock Down 1.7%

Shares of FELE stock traded down $1.66 during trading hours on Wednesday, hitting $95.53. 126,332 shares of the company were exchanged, compared to its average volume of 241,726. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.54. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 1.95 and a beta of 1.07. Franklin Electric has a one year low of $78.87 and a one year high of $108.08. The business’s 50-day simple moving average is $95.51 and its two-hundred day simple moving average is $94.50.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.01. The company had revenue of $581.71 million during the quarter, compared to the consensus estimate of $563.18 million. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Sell-side analysts predict that Franklin Electric will post 4.19 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a $0.265 dividend. The ex-dividend date was Thursday, November 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s dividend payout ratio is presently 34.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a report on Monday. Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Robert W. Baird set a $112.00 target price on Franklin Electric in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $112.00.

Institutional Trading of Franklin Electric

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Franklin Electric in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Franklin Electric by 31.2% in the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 101 shares during the last quarter. MAI Capital Management increased its position in Franklin Electric by 36.5% during the second quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 131 shares during the period. Osaic Holdings Inc. raised its stake in Franklin Electric by 24.3% during the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 119 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Franklin Electric by 24.6% in the 3rd quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock valued at $89,000 after purchasing an additional 185 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.