Franklin Electric (NASDAQ:FELE) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Franklin Electric (NASDAQ:FELE) from a buy rating to a hold rating in a research report sent to investors on Wednesday, BidAskClub reports.

A number of other brokerages have also weighed in on FELE. Zacks Investment Research lowered Franklin Electric from a hold rating to a sell rating in a research note on Tuesday, June 25th. ValuEngine lowered Franklin Electric from a buy rating to a hold rating in a research note on Monday, May 13th. Finally, Boenning Scattergood lowered Franklin Electric from an outperform rating to a neutral rating in a research note on Tuesday, April 23rd.

FELE stock opened at $45.99 on Wednesday. Franklin Electric has a 1 year low of $38.87 and a 1 year 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 stock’s 50 day moving average price is $46.05 and its 200 day moving average price is $48.19. The firm has a market cap of $2.06 billion, a P/E ratio of 20.35, a PEG ratio of 4.02 and a beta of 1.31.



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

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, July 31st. Franklin Electric’s dividend payout ratio is presently 25.66%.

In other Franklin Electric news, VP John J. Haines sold 18,600 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $47.07, for a total transaction of $875,502.00. Following the transaction, the vice president now owns 64,043 shares of the company’s stock, valued at approximately $3,014,504.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald P. Kenney sold 1,313 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 2.88% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Franklin Electric by 0.5% during the 2nd quarter. BlackRock Inc. now owns 6,141,278 shares of the industrial products company’s stock worth $291,711,000 after buying an additional 30,506 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Franklin Electric by 10.1% during the 2nd quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock worth $136,461,000 after buying an additional 263,676 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Franklin Electric by 0.9% during the 2nd quarter. Earnest Partners LLC now owns 2,130,166 shares of the industrial products company’s stock worth $101,183,000 after buying an additional 19,417 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Franklin Electric by 8.5% during the 2nd quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock worth $95,840,000 after buying an additional 158,355 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Franklin Electric by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,705,695 shares of the industrial products company’s stock worth $73,140,000 after buying an additional 5,165 shares during the last quarter. 77.66% of the stock is currently owned by institutional investors.

About Franklin Electric

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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