Analysts Set Franklin Electric Co. (FELE) Price Target at $33.75
Franklin Electric Co. (NASDAQ:FELE) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $33.75.
Separately, Zacks Investment Research cut Franklin Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th.
In other Franklin Electric news, insider Robert J. Stone sold 10,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $42.04, for a total value of $420,400.00. Following the completion of the sale, the insider now directly owns 26,459 shares in the company, valued at $1,112,336.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas J. Strupp sold 3,750 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $35.26, for a total value of $132,225.00. The disclosure for this sale can be found here. 2.67% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Franklin Electric by 8.0% in the third quarter. Victory Capital Management Inc. now owns 2,630 shares of the company’s stock worth $107,000 after buying an additional 195 shares during the period. Advisor Group Inc. boosted its stake in Franklin Electric by 6.3% in the third quarter. Advisor Group Inc. now owns 2,823 shares of the company’s stock worth $116,000 after buying an additional 168 shares during the period. PineBridge Investments L.P. boosted its stake in Franklin Electric by 3.9% in the second quarter. PineBridge Investments L.P. now owns 4,860 shares of the company’s stock worth $160,000 after buying an additional 184 shares during the period. NEXT Financial Group Inc boosted its stake in Franklin Electric by 42.7% in the second quarter. NEXT Financial Group Inc now owns 5,177 shares of the company’s stock worth $171,000 after buying an additional 1,550 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Franklin Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,503 shares of the company’s stock worth $182,000 after buying an additional 671 shares during the period. Institutional investors own 80.17% of the company’s stock.
Shares of Franklin Electric (NASDAQ:FELE) opened at 40.00 on Monday. The company has a market capitalization of $1.85 billion, a P/E ratio of 24.86 and a beta of 1.48. Franklin Electric has a 1-year low of $23.75 and a 1-year high of $43.00. The firm’s 50 day moving average price is $38.57 and its 200-day moving average price is $36.50.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.01. Franklin Electric had a return on equity of 13.01% and a net margin of 8.31%. The firm had revenue of $239.80 million for the quarter, compared to the consensus estimate of $244.09 million. During the same period in the previous year, the company posted $0.45 EPS. Franklin Electric’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts expect that Franklin Electric will post $1.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, November 1st. Franklin Electric’s dividend payout ratio (DPR) is presently 24.84%.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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