Brokers Issue Forecasts for Franklin Electric Co., Inc.’s Q3 2024 Earnings (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE) – Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for Franklin Electric in a report released on Wednesday, May 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $1.33 per share for the quarter, down from their previous forecast of $1.37. The consensus estimate for Franklin Electric’s current full-year earnings is $4.28 per share.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). Franklin Electric had a return on equity of 15.86% and a net margin of 9.25%. The firm had revenue of $460.90 million for the quarter, compared to analysts’ expectations of $477.64 million. During the same quarter in the previous year, the company posted $0.79 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird increased their target price on Franklin Electric from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com upgraded Franklin Electric from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Northcoast Research upgraded shares of Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Friday, February 23rd. Finally, DA Davidson increased their price target on shares of Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Franklin Electric Trading Up 0.2 %

NASDAQ FELE opened at $98.90 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.56 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.90 and a beta of 0.99. Franklin Electric has a 52-week low of $82.61 and a 52-week high of $107.89. The firm has a 50-day moving average price of $102.32 and a 200 day moving average price of $95.98.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.00 annualized dividend and a yield of 1.01%. Franklin Electric’s dividend payout ratio is presently 24.88%.

Insider Buying and Selling at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the sale, the chief executive officer now directly owns 154,993 shares of the company’s stock, valued at approximately $15,493,100.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Franklin Electric

A number of institutional investors and hedge funds have recently bought and sold shares of FELE. GHP Investment Advisors Inc. raised its position in shares of Franklin Electric by 37.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 26,778 shares of the industrial products company’s stock valued at $2,588,000 after buying an additional 7,325 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Franklin Electric by 23.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,332 shares of the industrial products company’s stock worth $2,171,000 after acquiring an additional 4,582 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Franklin Electric in the 3rd quarter valued at $767,000. Vanguard Group Inc. lifted its stake in shares of Franklin Electric by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,656,427 shares of the industrial products company’s stock worth $415,493,000 after purchasing an additional 17,092 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Franklin Electric by 12.5% during the third quarter. Inspire Investing LLC now owns 3,521 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.