Franklin Electric Co., Inc. (NASDAQ:FELE) Short Interest Down 22.4% in December

Franklin Electric Co., Inc. (NASDAQ:FELE) saw a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 600,718 shares, a decrease of 22.4% from the November 30th total of 773,703 shares. Based on an average daily volume of 229,784 shares, the short-interest ratio is presently 2.6 days. Currently, 1.4% of the company’s shares are sold short. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 229,784 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

FELE has been the subject of several analyst reports. Robert W. Baird set a $112.00 price target on shares of Franklin Electric in a research report on Wednesday, October 29th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric has a consensus rating of “Hold” and an average price target of $112.00.

Franklin Electric Trading Down 0.4%

NASDAQ:FELE traded down $0.39 on Tuesday, reaching $97.43. The company’s stock had a trading volume of 24,375 shares, compared to its average volume of 257,670. Franklin Electric has a 1-year low of $78.87 and a 1-year high of $108.08. The business’s 50-day moving average price is $95.60 and its two-hundred day moving average price is $94.40. The firm has a market cap of $4.34 billion, a PE ratio of 31.73, a PEG ratio of 1.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.12 and a current ratio of 2.54.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.01. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The company had revenue of $581.71 million for the quarter, compared to analyst estimates of $563.18 million. During the same quarter last year, the firm posted $1.17 earnings per share. Franklin Electric’s revenue was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Equities research analysts anticipate that Franklin Electric will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.1%. Franklin Electric’s dividend payout ratio is currently 34.53%.

Hedge Funds Weigh In On Franklin Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FELE. Quarry LP bought a new position in Franklin Electric during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC grew its holdings in Franklin Electric by 31.2% during the second quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 101 shares during the period. MAI Capital Management increased its holdings in shares of Franklin Electric by 36.5% during the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 131 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Franklin Electric by 24.3% in the second quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 119 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Franklin Electric by 24.6% during the third quarter. Covestor Ltd now owns 937 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 185 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

About Franklin Electric

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.