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 note released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also commented on the company. DA Davidson reissued a “neutral” rating and set a $105.00 price target on shares of Franklin Electric in a research note on Wednesday, September 9th. Weiss Ratings raised Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 14th. Finally, Robert W. Baird upped their price objective on Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $114.50.

Franklin Electric Stock Down 0.7%

Shares of FELE opened at $99.43 on Friday. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.10 and a current ratio of 2.41. The stock has a fifty day moving average of $99.53 and a 200-day moving average of $101.14.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The company had revenue of $622.88 million for 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 quarter last year, the business posted $1.31 EPS. 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 fiscal year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a $0.28 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.1%. Franklin Electric’s payout ratio is presently 32.28%.

Institutional Trading of Franklin Electric

A number of institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL raised its stake in Franklin Electric by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company’s stock worth $23,653,000 after buying an additional 10,858 shares during the period. Principal Financial Group Inc. boosted its holdings in Franklin Electric by 4.8% in the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock worth $20,659,000 after acquiring an additional 10,325 shares in the last quarter. Engineers Gate Manager LP grew its stake in Franklin Electric by 687.1% in the second quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company’s stock valued at $3,501,000 after acquiring an additional 28,516 shares during the period. Caisse de depot et placement du Quebec acquired a new stake in Franklin Electric in the second quarter valued at approximately $1,694,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Franklin Electric by 116.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company’s stock valued at $13,562,000 after acquiring an additional 79,222 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.