Franklin Electric Co.’s (FELE) Neutral Rating Reaffirmed at Seaport Global Securities

Seaport Global Securities reissued their neutral rating on shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in a research note issued to investors on Wednesday morning. Seaport Global Securities also issued estimates for Franklin Electric Co.’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.92 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.08 EPS.

Several other analysts have also weighed in on the stock. Robert W. Baird boosted their target price on shares of Franklin Electric Co. from $45.00 to $47.00 and gave the company a neutral rating in a research note on Wednesday. Boenning Scattergood reiterated a buy rating on shares of Franklin Electric Co. in a research note on Tuesday. Zacks Investment Research lowered shares of Franklin Electric Co. from a buy rating to a hold rating in a research note on Friday, October 6th. Finally, BidaskClub lowered shares of Franklin Electric Co. from a hold rating to a sell rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $49.33.

Franklin Electric Co. (NASDAQ:FELE) traded down 0.22% on Wednesday, hitting $45.45. 181,300 shares of the company were exchanged. Franklin Electric Co. has a 52-week low of $34.75 and a 52-week high of $46.95. The stock has a market cap of $2.11 billion, a PE ratio of 24.70 and a beta of 1.63. The firm has a 50 day moving average of $43.51 and a 200-day moving average of $40.96.

Franklin Electric Co. (NASDAQ:FELE) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. Franklin Electric Co. had a net margin of 8.13% and a return on equity of 13.09%. The firm had revenue of $311.11 million during the quarter, compared to analyst estimates of $317.54 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts expect that Franklin Electric Co. will post $1.90 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd will be given a dividend of $0.1075 per share. The ex-dividend date is Wednesday, November 1st. This represents a $0.43 annualized dividend and a dividend yield of 0.95%. Franklin Electric Co.’s dividend payout ratio is currently 23.12%.

Several institutional investors have recently added to or reduced their stakes in FELE. JPMorgan Chase & Co. grew its position in shares of Franklin Electric Co. by 22.4% during the first quarter. JPMorgan Chase & Co. now owns 74,036 shares of the industrial products company’s stock worth $3,187,000 after acquiring an additional 13,565 shares during the last quarter. Stifel Financial Corp grew its position in shares of Franklin Electric Co. by 8.3% during the first quarter. Stifel Financial Corp now owns 10,530 shares of the industrial products company’s stock worth $454,000 after acquiring an additional 804 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Franklin Electric Co. by 13.5% during the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 347 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of Franklin Electric Co. by 26.3% during the first quarter. OppenheimerFunds Inc. now owns 17,840 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 3,710 shares during the last quarter. Finally, FMR LLC grew its position in shares of Franklin Electric Co. by 0.4% during the first quarter. FMR LLC now owns 279,600 shares of the industrial products company’s stock worth $12,037,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 77.02% 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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