Franklin Electric (NASDAQ:FELE) Receives Neutral Rating from DA Davidson

Franklin Electric (NASDAQ:FELE)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the industrial products company’s stock. DA Davidson’s price target suggests a potential downside of 4.75% from the company’s previous close.

Several other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday, June 9th. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.00.

Franklin Electric Price Performance

Shares of Franklin Electric stock traded up $1.49 on Tuesday, reaching $104.99. The company’s stock had a trading volume of 26,015 shares, compared to its average volume of 322,701. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $99.59 and a 200-day moving average price of $98.34. The company has a market capitalization of $4.64 billion, a P/E ratio of 31.62, a PEG ratio of 1.88 and a beta of 1.05. Franklin Electric has a 52-week low of $84.82 and a 52-week high of $111.53.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $500.44 million for the quarter, compared to analyst estimates of $479.21 million. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. Analysts expect that Franklin Electric will post 4.58 EPS for the current year.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Jonathan M. Grandon sold 8,547 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total transaction of $883,759.80. Following the completion of the sale, the insider directly owned 7,509 shares of the company’s stock, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Delancey W. Davis sold 1,900 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total value of $190,000.00. Following the sale, the insider directly owned 10,402 shares of the company’s stock, valued at $1,040,200. The trade was a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,835 shares of company stock valued at $2,004,982. Insiders own 2.89% of the company’s stock.

Institutional Trading of Franklin Electric

A number of hedge funds have recently added to or reduced their stakes in FELE. Norges Bank purchased a new position in shares of Franklin Electric during the 4th quarter worth approximately $50,010,000. Amundi raised its stake in shares of Franklin Electric by 134.8% during the 3rd quarter. Amundi now owns 624,481 shares of the industrial products company’s stock worth $59,424,000 after buying an additional 358,517 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Franklin Electric during the 4th quarter worth approximately $27,266,000. Segall Bryant & Hamill LLC purchased a new position in shares of Franklin Electric during the 3rd quarter worth approximately $24,223,000. Finally, Qube Research & Technologies Ltd raised its stake in shares of Franklin Electric by 70.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 486,523 shares of the industrial products company’s stock worth $43,661,000 after buying an additional 200,545 shares in the last quarter. 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.