Franklin Electric Co. (FELE) Shares Up 1.3%
Franklin Electric Co. (NASDAQ:FELE) shot up 1.3% on Wednesday . The company traded as high as $38.69 and last traded at $38.61, with a volume of 59,443 shares traded. The stock had previously closed at $38.13.
A number of research firms have recently weighed in on FELE. Zacks Investment Research raised Franklin Electric from a “sell” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, May 3rd. Sterne Agee CRT reissued a “buy” rating on shares of Franklin Electric in a report on Monday, May 16th. Seaport Global Securities downgraded Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, June 10th. Finally, Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $35.00.
The firm has a market cap of $1.82 billion and a PE ratio of 25.62. The stock’s 50-day moving average price is $37.13 and its 200-day moving average price is $32.91.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business earned $252.10 million during the quarter, compared to the consensus estimate of $255.60 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Franklin Electric Co. will post $1.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%.
In other news, CFO John J. Haines sold 4,546 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $34.00, for a total transaction of $154,564.00. Following the completion of the transaction, the chief financial officer now owns 39,860 shares in the company, valued at approximately $1,355,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas J. Strupp sold 5,082 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $37.52, for a total value of $190,676.64. Following the transaction, the vice president now owns 29,023 shares of the company’s stock, valued at approximately $1,088,942.96. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Franklin Electric stock. Morgan Stanley boosted its stake in Franklin Electric Co. (NASDAQ:FELE) by 166.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 418,213 shares of the company’s stock after buying an additional 261,097 shares during the period. Morgan Stanley owned approximately 0.90% of Franklin Electric worth $11,306,000 as of its most recent filing with the SEC.
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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