Franklin Electric’s (FELE) Neutral Rating Reiterated at DA Davidson

DA Davidson restated their neutral rating on shares of Franklin Electric (NASDAQ:FELE) in a report issued on Wednesday,Benzinga reports. The firm currently has a $100.00 price target on the industrial products company’s stock.

Separately, Wall Street Zen downgraded Franklin Electric from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.00.

Franklin Electric Stock Performance

Shares of FELE stock opened at $99.44 on Wednesday. The company has a market capitalization of $4.39 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.82 and a beta of 1.07. The business’s 50 day moving average is $96.79 and its two-hundred day moving average is $97.40. The company has a current ratio of 2.67, a quick ratio of 1.18 and a debt-to-equity ratio of 0.10. Franklin Electric has a 12-month low of $83.42 and a 12-month high of $111.53.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $500.44 million for the quarter, compared to the consensus estimate of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.Franklin Electric’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Analysts expect that Franklin Electric will post 4.58 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, May 7th. Franklin Electric’s dividend payout ratio (DPR) is 33.73%.

Insider Buying and Selling at Franklin Electric

In other news, CEO Joseph A. Ruzynski bought 500 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were acquired at an average price of $93.34 per share, for a total transaction of $46,670.00. Following the completion of the transaction, the chief executive officer directly owned 22,722 shares in the company, valued at $2,120,871.48. The trade was a 2.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Franklin Electric

Hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of Franklin Electric in the third quarter valued at approximately $1,181,000. AlphaQuest LLC lifted its position in shares of Franklin Electric by 38.7% in the third quarter. AlphaQuest LLC now owns 45,466 shares of the industrial products company’s stock valued at $4,328,000 after acquiring an additional 12,675 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Franklin Electric by 19.4% in the fourth quarter. Teacher Retirement System of Texas now owns 69,988 shares of the industrial products company’s stock valued at $6,686,000 after acquiring an additional 11,351 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Franklin Electric by 11.5% in the third quarter. Public Sector Pension Investment Board now owns 149,192 shares of the industrial products company’s stock valued at $14,203,000 after acquiring an additional 15,387 shares in the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Franklin Electric by 11.8% in the third quarter. Alps Advisors Inc. now owns 90,086 shares of the industrial products company’s stock valued at $8,576,000 after acquiring an additional 9,528 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

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.