Franklin Electric (NASDAQ:FELE) Cut to “Hold” at Wall Street Zen

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

A number of other research analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Franklin Electric in a report on Tuesday, October 14th. Robert W. Baird set a $112.00 target price on Franklin Electric in a report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.00.

Franklin Electric Price Performance

Shares of NASDAQ FELE opened at $93.15 on Friday. The company has a current ratio of 2.54, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. Franklin Electric has a twelve month low of $78.87 and a twelve month high of $111.94. The stock has a 50 day moving average of $95.92 and a two-hundred day moving average of $92.08. The stock has a market cap of $4.14 billion, a P/E ratio of 30.34, a P/E/G ratio of 1.91 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.01. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The company had revenue of $581.71 million during the quarter, compared to analysts’ expectations of $563.18 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, research analysts forecast that Franklin Electric will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Franklin Electric’s dividend payout ratio is currently 34.53%.

Insiders Place Their Bets

In related news, insider Jonathan M. Grandon sold 10,036 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the transaction, the insider owned 8,171 shares of the company’s stock, valued at $801,003.13. This represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Franklin Electric by 31.2% during 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 period. MAI Capital Management grew its holdings 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. Caitong International Asset Management Co. Ltd acquired a new position in Franklin Electric during the first quarter worth $46,000. Osaic Holdings Inc. grew its holdings in Franklin Electric by 24.3% during the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 119 shares during the period. Finally, Covestor Ltd grew its holdings in Franklin Electric by 27.4% during the first quarter. Covestor Ltd now owns 731 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Company Profile

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