Q3 2024 EPS Estimates for Franklin Electric Co., Inc. Reduced by Seaport Res Ptn (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE) – Research analysts at Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for shares of Franklin Electric in a research report issued to clients and investors on Wednesday, May 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $1.33 per share for the quarter, down from their prior estimate of $1.37. The consensus estimate for Franklin Electric’s current full-year earnings is $4.27 per share.

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

Franklin Electric Trading Up 0.2 %

Shares of FELE stock opened at $98.90 on Friday. The company has a market capitalization of $4.56 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The company has a quick ratio of 1.20, a current ratio of 2.85 and a debt-to-equity ratio of 0.07. Franklin Electric has a 12-month low of $82.61 and a 12-month high of $107.89. The firm has a 50 day moving average price of $102.32 and a two-hundred day moving average price of $96.03.

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

Hedge Funds Weigh In On Franklin Electric

Several large investors have recently modified their holdings of FELE. Vanguard Group Inc. raised its position in Franklin Electric by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,720,914 shares of the industrial products company’s stock worth $456,276,000 after purchasing an additional 64,487 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Franklin Electric by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,975,228 shares of the industrial products company’s stock worth $210,974,000 after acquiring an additional 13,955 shares during the period. King Luther Capital Management Corp boosted its holdings in Franklin Electric by 1.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,167,116 shares of the industrial products company’s stock valued at $112,802,000 after acquiring an additional 14,944 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Franklin Electric by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,466 shares of the industrial products company’s stock valued at $103,656,000 after purchasing an additional 30,966 shares during the period. Finally, Invesco Ltd. raised its holdings in Franklin Electric by 6.2% during the 3rd quarter. Invesco Ltd. now owns 615,008 shares of the industrial products company’s stock worth $54,877,000 after purchasing an additional 36,114 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total value of $1,036,185.36. Following the completion of the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at $15,493,100.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

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. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, May 1st. Franklin Electric’s dividend payout ratio (DPR) is 24.88%.

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.