Franklin Electric (NASDAQ:FELE) Stock Rating Lowered by StockNews.com

Franklin Electric (NASDAQ:FELEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

FELE has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Franklin Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Wednesday, March 9th. Robert W. Baird decreased their price objective on shares of Franklin Electric from $93.00 to $86.00 in a research note on Wednesday, April 27th. Finally, Seaport Res Ptn raised shares of Franklin Electric from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th.

NASDAQ:FELE traded up $0.01 during trading hours on Tuesday, reaching $76.65. The company’s stock had a trading volume of 181,892 shares, compared to its average volume of 193,466. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 23.30 and a beta of 1.03. The firm has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $83.50. Franklin Electric has a 1 year low of $68.27 and a 1 year high of $96.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.62 and a current ratio of 1.70.

Franklin Electric (NASDAQ:FELEGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Franklin Electric had a net margin of 8.75% and a return on equity of 16.08%. The firm had revenue of $451.50 million for the quarter, compared to analysts’ expectations of $424.62 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities analysts anticipate that Franklin Electric will post 3.64 earnings per share for the current fiscal year.

In related news, VP Paul Chhabra sold 7,079 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $75.25, for a total transaction of $532,694.75. Following the completion of the transaction, the vice president now directly owns 10,911 shares in the company, valued at approximately $821,052.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jeffery L. Taylor purchased 2,000 shares of Franklin Electric stock in a transaction on Monday, May 9th. The shares were acquired at an average price of $70.36 per share, with a total value of $140,720.00. Following the transaction, the chief financial officer now directly owns 12,539 shares in the company, valued at approximately $882,244.04. The disclosure for this purchase can be found here. 3.10% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in Franklin Electric by 9.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,490 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 1,050 shares in the last quarter. O Shares Investment Advisers LLC increased its position in shares of Franklin Electric by 2.3% in the fourth quarter. O Shares Investment Advisers LLC now owns 7,697 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 174 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Franklin Electric by 159.6% during the third quarter. BNP Paribas Arbitrage SA now owns 45,720 shares of the industrial products company’s stock worth $3,651,000 after buying an additional 28,111 shares during the last quarter. Connable Office Inc. boosted its holdings in shares of Franklin Electric by 6.5% during the fourth quarter. Connable Office Inc. now owns 7,741 shares of the industrial products company’s stock worth $732,000 after acquiring an additional 471 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Franklin Electric by 11.5% during the third quarter. UBS Asset Management Americas Inc. now owns 53,663 shares of the industrial products company’s stock worth $4,285,000 after acquiring an additional 5,521 shares during the period. Hedge funds and other institutional investors own 77.59% of the company’s stock.

Franklin Electric Company Profile (Get Rating)

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

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