Franklin Electric’s (FELE) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Franklin Electric (NASDAQ:FELE) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $105.00 target price on the industrial products company’s stock.

FELE has been the subject of several other reports. Weiss Ratings raised shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Robert W. Baird increased their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric currently has an average rating of “Hold” and a consensus target price of $114.50.

Franklin Electric Stock Performance

Shares of FELE stock opened at $97.83 on Wednesday. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $103.76 and a 200-day moving average of $100.56.

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

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.12 annualized dividend and a yield of 1.1%. Franklin Electric’s dividend payout ratio (DPR) is presently 32.28%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Franklin Electric in the 2nd quarter worth about $698,173,000. California State Teachers Retirement System lifted its position in Franklin Electric by 10,039.2% in the 2nd quarter. California State Teachers Retirement System now owns 4,677,236 shares of the industrial products company’s stock valued at $501,353,000 after acquiring an additional 4,631,106 shares in the last quarter. Morgan Stanley boosted its stake in Franklin Electric by 0.5% during the 4th quarter. Morgan Stanley now owns 1,790,205 shares of the industrial products company’s stock valued at $171,019,000 after purchasing an additional 8,356 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Franklin Electric by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock valued at $93,059,000 after purchasing an additional 36,268 shares during the last quarter. Finally, Amundi increased its holdings in Franklin Electric by 25.2% during the 1st quarter. Amundi now owns 881,425 shares of the industrial products company’s stock worth $81,225,000 after purchasing an additional 177,433 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

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.