Franklin Electric Co. (FELE) Sets New 52-Week High at $36.02
Shares of Franklin Electric Co. (NASDAQ:FELE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.02 and last traded at $35.50, with a volume of 145,356 shares trading hands. The stock had previously closed at $34.11.
Several analysts have issued reports on FELE shares. TheStreet upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research note on Monday, March 21st. Zacks Investment Research cut Franklin Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. Sterne Agee CRT restated a “buy” rating on shares of Franklin Electric in a research note on Monday, May 16th. Seaport Global Securities cut Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Friday, June 10th. Finally, Boenning Scattergood upgraded Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Franklin Electric presently has an average rating of “Hold” and an average price target of $33.83.
The company’s 50 day moving average is $33.33 and its 200-day moving average is $30.53. The firm has a market cap of $1.63 billion and a PE ratio of 25.81.
Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.02. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm earned $218.40 million during the quarter, compared to the consensus estimate of $217.20 million. The business’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Electric Co. will post $1.64 earnings per share for the current year.
In other news, VP Delancey W. Davis sold 2,971 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $32.40, for a total value of $96,260.40. Following the sale, the vice president now directly owns 15,724 shares of the company’s stock, valued at $509,457.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Donald P. Kenney sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $32.27, for a total value of $45,178.00. Following the completion of the sale, the vice president now directly owns 23,812 shares in the company, valued at $768,413.24. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in Franklin Electric by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,229,172 shares of the company’s stock worth $33,224,000 after buying an additional 4,363 shares during the period. Morgan Stanley increased its stake in Franklin Electric by 166.2% in the fourth quarter. Morgan Stanley now owns 418,213 shares of the company’s stock worth $11,306,000 after buying an additional 261,097 shares during the period. Principal Financial Group Inc. increased its stake in Franklin Electric by 5.6% in the fourth quarter. Principal Financial Group Inc. now owns 262,619 shares of the company’s stock worth $7,099,000 after buying an additional 14,002 shares during the period. Tributary Capital Management LLC increased its stake in Franklin Electric by 11.0% in the fourth quarter. Tributary Capital Management LLC now owns 195,284 shares of the company’s stock worth $5,279,000 after buying an additional 19,386 shares during the period. Finally, Russell Frank Co increased its stake in Franklin Electric by 103.9% in the fourth quarter. Russell Frank Co now owns 127,966 shares of the company’s stock worth $3,543,000 after buying an additional 65,204 shares during the period.
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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