Franklin Electric Co., Inc. (FELE) Downgraded by BidaskClub
BidaskClub downgraded shares of Franklin Electric Co., Inc. (NASDAQ:FELE) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research upgraded shares of Franklin Electric Co. from a hold rating to a buy rating and set a $49.00 target price on the stock in a report on Tuesday, April 25th.
Franklin Electric Co. (NASDAQ FELE) traded up 0.63% on Tuesday, reaching $40.05. 200,390 shares of the company were exchanged. The stock has a 50 day moving average of $41.16 and a 200 day moving average of $40.70. Franklin Electric Co. has a 12-month low of $34.75 and a 12-month high of $46.50. The firm has a market capitalization of $1.87 billion, a PE ratio of 21.72 and a beta of 1.62.
Franklin Electric Co. (NASDAQ:FELE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The business had revenue of $305.35 million for the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. Equities analysts anticipate that Franklin Electric Co. will post $1.89 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be issued a dividend of $0.108 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.43 dividend on an annualized basis and a yield of 1.08%. Franklin Electric Co.’s payout ratio is 23.37%.
In related news, insider Delancey W. Davis sold 4,071 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $34.45, for a total transaction of $140,245.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John J. Haines sold 4,000 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $164,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,207 shares of company stock worth $2,262,378. 2.54% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Fifth Third Bancorp increased its position in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock worth $114,000 after buying an additional 196 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Franklin Electric Co. by 13.5% in the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after buying an additional 347 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Franklin Electric Co. during the first quarter valued at approximately $171,000. State of Alaska Department of Revenue increased its position in Franklin Electric Co. by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,250 shares of the industrial products company’s stock valued at $182,000 after buying an additional 100 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in Franklin Electric Co. during the first quarter valued at approximately $216,000. Institutional investors and hedge funds own 78.74% of the company’s stock.
About Franklin Electric Co.
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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