Franklin Electric (NASDAQ:FELE) Downgraded by Wall Street Zen to “Hold”

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

Several other research firms have also weighed in on FELE. Weiss Ratings upgraded Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. DA Davidson restated a “neutral” rating and issued a $105.00 price target on shares of Franklin Electric in a report on Wednesday, September 9th. Finally, Robert W. Baird increased 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Franklin Electric currently has a consensus rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Trading Down 0.5%

FELE opened at $100.16 on Friday. The firm’s fifty day moving average is $99.69 and its two-hundred day moving average is $101.01. 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 firm has a market cap of $4.43 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.03. Franklin Electric has a twelve month low of $89.54 and a twelve month high of $115.82.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. During the same period last year, the firm posted $1.31 earnings per share. The business’s quarterly revenue 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 anticipate that Franklin Electric will post 4.65 EPS for the current year.

Franklin Electric Dividend Announcement

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

Institutional Investors Weigh In On Franklin Electric

Several institutional investors and hedge funds have recently bought and sold shares of FELE. Allworth Financial LP increased its position in Franklin Electric by 28.2% in the 2nd quarter. Allworth Financial LP now owns 586 shares of the industrial products company’s stock valued at $63,000 after buying an additional 129 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Franklin Electric by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 20,707 shares of the industrial products company’s stock worth $1,909,000 after purchasing an additional 172 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Franklin Electric by 21.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 977 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 175 shares during the period. Hillsdale Investment Management Inc. raised its position in Franklin Electric by 0.3% in the first quarter. Hillsdale Investment Management Inc. now owns 75,800 shares of the industrial products company’s stock worth $6,986,000 after acquiring an additional 200 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Franklin Electric by 66.7% in the second quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) is a global manufacturer and distributor of systems and components used to move, manage and control water and other fluids. Founded in 1944 and headquartered in Bluffton, Indiana, the company originally focused on submersible electric motors and has expanded into a broader range of fluid-handling technologies.

Franklin Electric’s Water Systems business supplies submersible pumps, motors, drives, controls, monitoring equipment and related products for residential, commercial, agricultural, municipal and industrial applications.