Franklin Electric (NASDAQ:FELE) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Franklin Electric (NASDAQ:FELE) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on FELE. Robert W. Baird boosted their target price on shares of Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, DA Davidson lifted their price objective on shares of Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Up 0.5%

Franklin Electric stock opened at $99.76 on Friday. The business’s 50-day moving average price is $104.48 and its 200 day moving average price is $100.50. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.Franklin Electric’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, sell-side analysts anticipate that Franklin Electric will post 4.65 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, August 6th. Franklin Electric’s dividend payout ratio (DPR) is presently 32.28%.

Insider Activity

In other news, insider Jonathan Grandon sold 8,547 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the sale, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. The trade was a 53.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FELE. Quarry LP acquired a new position in Franklin Electric in the 3rd quarter valued at about $28,000. Aster Capital Management DIFC Ltd acquired a new position in Franklin Electric in the fourth quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its stake in Franklin Electric by 31.2% in the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 101 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Franklin Electric by 213.1% in the fourth quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 309 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in Franklin Electric during the second quarter worth approximately $44,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Electric

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.