Franklin Electric Co., Inc. (NASDAQ:FELE) – Gabelli boosted their FY2020 earnings estimates for shares of Franklin Electric Co. in a research report issued to clients and investors on Wednesday. Gabelli analyst J. Garza now forecasts that the industrial products company will post earnings per share of $2.80 for the year, up from their previous forecast of $2.75.
Franklin Electric Co. (NASDAQ:FELE) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. ILLEGAL ACTIVITY NOTICE: “FY2020 EPS Estimates for Franklin Electric Co., Inc. (FELE) Boosted by Gabelli” was reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.themarketsdaily.com/2017/08/08/fy2020-eps-estimates-for-franklin-electric-co-inc-fele-boosted-by-gabelli-updated.html.
Several other equities research analysts have also weighed in on the company. BidaskClub lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Zacks Investment Research raised Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, April 25th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $52.00 price target (up from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday.
Franklin Electric Co. (FELE) traded up 0.63% during mid-day trading on Friday, reaching $40.05. 200,390 shares of the company were exchanged. The company has a market cap of $1.87 billion, a P/E ratio of 21.72 and a beta of 1.62. Franklin Electric Co. has a 12 month low of $34.75 and a 12 month high of $46.50. The stock’s 50-day moving average is $41.16 and its 200-day moving average is $40.70.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio is presently 23.37%.
In other Franklin Electric Co. news, insider Thomas J. Strupp sold 4,876 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $39.26, for a total value of $191,431.76. Following the transaction, the insider now owns 10,515 shares of the company’s stock, valued at $412,818.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the transaction, the insider now directly owns 39,392 shares in the company, valued at approximately $1,772,640. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,207 shares of company stock worth $2,262,378. 2.54% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in shares of Franklin Electric Co. by 5.1% in the first quarter. Janney Montgomery Scott LLC now owns 11,307 shares of the industrial products company’s stock valued at $487,000 after buying an additional 547 shares during the period. Dubuque Bank & Trust Co. bought a new stake in Franklin Electric Co. during the first quarter worth approximately $216,000. Independent Portfolio Consultants Inc. increased its stake in Franklin Electric Co. by 4.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 20,133 shares of the industrial products company’s stock worth $867,000 after buying an additional 840 shares in the last quarter. ProShare Advisors LLC increased its stake in Franklin Electric Co. by 15.9% in the first quarter. ProShare Advisors LLC now owns 163,688 shares of the industrial products company’s stock worth $7,047,000 after buying an additional 22,405 shares in the last quarter. Finally, American Capital Management Inc. increased its stake in Franklin Electric Co. by 3.2% in the first quarter. American Capital Management Inc. now owns 456,045 shares of the industrial products company’s stock worth $19,633,000 after buying an additional 14,050 shares in the last quarter. 78.74% of the stock is currently owned by institutional investors.
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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