Franklin Electric (NASDAQ:FELE) Hits New 52-Week High – What’s Next?

by · The Markets Daily

Franklin Electric Co., Inc. (NASDAQ:FELE – Get Free Report)’s share price hit a new 52-week high on Wednesday . The company traded as high as $109.98 and last traded at $109.65, with a volume of 31018 shares changing hands. The stock had previously closed at $100.80.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.

Get Our Latest Stock Analysis on FELE

Franklin Electric Stock Performance

The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.03 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.13 and a beta of 0.96. The stock has a fifty day moving average of $101.53 and a 200-day moving average of $100.09.

Franklin Electric (NASDAQ:FELE – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The firm had revenue of $531.40 million for the quarter, compared to analyst estimates of $551.08 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Franklin Electric Co., Inc. will post 3.82 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the sale, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Franklin Electric

A number of hedge funds and other institutional investors have recently modified their holdings of FELE. KBC Group NV boosted its stake in shares of Franklin Electric by 19.6% during the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after purchasing an additional 63,436 shares in the last quarter. MQS Management LLC acquired a new stake in Franklin Electric in the third quarter valued at $646,000. Victory Capital Management Inc. grew its position in shares of Franklin Electric by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 14,300 shares of the industrial products company’s stock valued at $1,499,000 after buying an additional 227 shares during the last quarter. Aptus Capital Advisors LLC increased its position in Franklin Electric by 15.6% during the 3rd quarter. Aptus Capital Advisors LLC now owns 27,741 shares of the industrial products company’s stock valued at $2,908,000 after purchasing an additional 3,744 shares during the period. Finally, Covestor Ltd increased its position in shares of Franklin Electric by 15.6% during the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after buying an additional 103 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

(Get Free Report)

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.

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