Franklin Electric (FELE) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Franklin Electric (NASDAQ:FELE) from a sell rating to a hold rating in a research note published on Thursday morning.

A number of other brokerages have also weighed in on FELE. Zacks Investment Research lowered Franklin Electric from a hold rating to a sell rating in a research note on Tuesday, September 25th. ValuEngine upgraded Franklin Electric from a hold rating to a buy rating in a research note on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Franklin Electric currently has an average rating of Hold and a consensus target price of $48.80.

NASDAQ:FELE traded down $0.36 on Thursday, hitting $45.43. The company’s stock had a trading volume of 111,591 shares, compared to its average volume of 118,020. The company has a quick ratio of 1.00, a current ratio of 2.22 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 2.36 and a beta of 1.60. Franklin Electric has a one year low of $38.45 and a one year high of $51.45.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $341.87 million during the quarter, compared to the consensus estimate of $342.18 million. Franklin Electric had a net margin of 7.07% and a return on equity of 14.22%. Franklin Electric’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Equities research analysts expect that Franklin Electric will post 2.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. Franklin Electric’s dividend payout ratio (DPR) is currently 25.00%.

In other news, VP Steven William Aikman sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $49.89, for a total transaction of $174,615.00. Following the transaction, the vice president now owns 18,515 shares in the company, valued at $923,713.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.54% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of FELE. Campbell & CO Investment Adviser LLC acquired a new stake in Franklin Electric during the third quarter worth approximately $287,000. Xact Kapitalforvaltning AB grew its position in Franklin Electric by 61.9% during the first quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the industrial products company’s stock worth $298,000 after buying an additional 2,800 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Franklin Electric during the second quarter worth approximately $345,000. Cim Investment Mangement Inc. acquired a new stake in Franklin Electric during the second quarter worth approximately $357,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Franklin Electric by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 1,108 shares in the last quarter. 77.88% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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