Franklin Electric (NASDAQ:FELE) Rating Increased to Buy at Wall Street Zen

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

Other equities analysts also recently issued reports about the company. Weiss Ratings upgraded Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. DA Davidson reiterated a “neutral” rating and set a $105.00 price target on shares of Franklin Electric in a research report on Wednesday, September 9th. Finally, Robert W. Baird raised their price target on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Performance

Shares of FELE opened at $95.51 on Friday. The stock has a market capitalization of $4.22 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The business’s fifty day moving average price is $103.06 and its 200 day moving average price is $100.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. Franklin Electric has a 12-month low of $89.54 and a 12-month high of $115.82.

Franklin Electric (NASDAQ:FELE) last released its earnings results 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. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million during the quarter, compared to analyst estimates of $605.92 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Equities research analysts forecast that Franklin Electric will post 4.65 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.28 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.2%. Franklin Electric’s dividend payout ratio (DPR) is currently 32.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FELE. Sequoia Financial Advisors LLC acquired a new position in shares of Franklin Electric during the second quarter worth approximately $330,000. Tidal Investments LLC increased its position in Franklin Electric by 14.0% in the 2nd quarter. Tidal Investments LLC now owns 6,908 shares of the industrial products company’s stock valued at $740,000 after acquiring an additional 848 shares during the period. Engineers Gate Manager LP increased its position in Franklin Electric by 687.1% in the 2nd 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. Integrated Wealth Concepts LLC bought a new stake in Franklin Electric during the 2nd quarter valued at $45,000. Finally, NewEdge Advisors LLC grew its stake in shares of Franklin Electric by 15.2% in the second quarter. NewEdge Advisors LLC now owns 9,181 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 1,212 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.