Franklin Electric (NASDAQ:FELE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Franklin Electric (NASDAQ:FELE) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on the stock. DA Davidson restated a “neutral” rating and set a $105.00 price objective on shares of Franklin Electric in a report on Wednesday, September 9th. Robert W. Baird increased their target price on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $114.50.

Franklin Electric Trading Down 0.3%

NASDAQ:FELE opened at $95.21 on Friday. Franklin Electric has a 1-year low of $89.54 and a 1-year high of $115.82. The business’s 50-day moving average price is $102.90 and its two-hundred day moving average price is $100.45. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.71 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. On average, equities analysts expect that Franklin Electric will post 4.65 earnings per share for the current year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 6th. Franklin Electric’s dividend payout ratio is presently 32.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC acquired a new position in shares of Franklin Electric in the second quarter valued at approximately $330,000. Tidal Investments LLC raised its holdings in shares of Franklin Electric by 14.0% during the second quarter. Tidal Investments LLC now owns 6,908 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 848 shares during the period. Engineers Gate Manager LP lifted its position in Franklin Electric by 687.1% in the 2nd quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company’s stock valued at $3,501,000 after acquiring an additional 28,516 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Franklin Electric in the 2nd quarter valued at $45,000. Finally, NewEdge Advisors LLC boosted its stake in Franklin Electric by 15.2% in the 2nd quarter. NewEdge Advisors LLC now owns 9,181 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 1,212 shares during the period. Institutional investors own 79.98% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.