Franklin Electric (NASDAQ:FELE) Cut to Hold at Wall Street Zen

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

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Finally, DA Davidson increased their price target on shares of Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.50.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $99.76 on Friday. The stock has a market cap of $4.41 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. Franklin Electric has a 12 month low of $89.54 and a 12 month high of $115.82. The business has a fifty day simple moving average of $104.37 and a 200 day simple moving average of $100.49. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The company had revenue of $622.88 million during the quarter, compared to analysts’ expectations of $605.92 million. During the same period in the prior year, the business posted $1.31 EPS. Franklin Electric’s revenue was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Research analysts predict that Franklin Electric will post 4.65 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. Franklin Electric’s payout ratio is currently 32.28%.

Institutional Trading of Franklin Electric

Several large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Franklin Electric during the third quarter worth about $28,000. Aster Capital Management DIFC Ltd acquired a new position in Franklin Electric in the 4th quarter valued at approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in Franklin Electric by 31.2% in the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 101 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Franklin Electric by 213.1% in the fourth quarter. Farther Finance Advisors LLC now owns 454 shares of the industrial products company’s stock valued at $43,000 after buying an additional 309 shares during the period. Finally, Trust Co. of Vermont bought a new position in Franklin Electric during the 2nd quarter worth approximately $44,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world?leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.