Franklin Electric (NASDAQ:FELE) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Franklin Electric (NASDAQ:FELE) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Franklin Electric has produced high-quality industrial pumps, filters and accessories. By introducing the new Little Giant PondWorks program, Franklin Electric now brings the same exceptional knowledge, experience, and quality to the recreational water gardening and outdoor living markets. “

Several other equities analysts have also commented on FELE. ValuEngine lowered Franklin Electric from a buy rating to a hold rating in a research report on Monday, May 13th. BidaskClub cut Franklin Electric from a buy rating to a hold rating in a research report on Tuesday, August 27th.

NASDAQ FELE traded up $0.43 during trading on Monday, hitting $50.24. 49,610 shares of the company’s stock traded hands, compared to its average volume of 151,290. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 4.23 and a beta of 1.31. Franklin Electric has a 12-month low of $38.87 and a 12-month high of $55.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 2.15. The business has a 50 day moving average of $45.83 and a 200-day moving average of $47.69.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.04). Franklin Electric had a return on equity of 13.17% and a net margin of 7.36%. The company had revenue of $355.30 million during the quarter, compared to the consensus estimate of $358.31 million. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Franklin Electric will post 2.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, July 31st. Franklin Electric’s dividend payout ratio is currently 25.66%.

In other Franklin Electric news, VP Donald P. Kenney sold 1,313 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $46.21, for a total value of $60,673.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay J. Walsh sold 1,016 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.11, for a total value of $46,847.76. Following the sale, the insider now owns 16,415 shares of the company’s stock, valued at $756,895.65. The disclosure for this sale can be found here. Insiders sold a total of 20,929 shares of company stock worth $983,023 in the last ninety days. 2.88% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Tortoise Index Solutions LLC increased its stake in Franklin Electric by 17.7% during the second quarter. Tortoise Index Solutions LLC now owns 1,715 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 258 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Franklin Electric by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,026 shares of the industrial products company’s stock valued at $768,000 after buying an additional 271 shares in the last quarter. Mason Street Advisors LLC grew its stake in Franklin Electric by 2.4% during the 1st quarter. Mason Street Advisors LLC now owns 12,335 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 286 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Franklin Electric by 1.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,800 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 390 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Franklin Electric by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 59,748 shares of the industrial products company’s stock worth $2,838,000 after purchasing an additional 499 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Franklin Electric Company Profile

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

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