Franklin Electric (NASDAQ:FELE) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Franklin Electric has received a "Hold (C+)" rating from Weiss Ratings, while Wall Street Zen upgraded it to a "buy" rating.
• The company's stock currently has an average price target of $107.00, with recent trading around $93.24.
• Insider Jonathan M. Grandon sold over 10,000 shares at an average price of $98.03, reducing his position by over 55%.

Franklin Electric (NASDAQ:FELE - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities research analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird raised their price objective on Franklin Electric from $94.00 to $107.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $107.00.

Franklin Electric Price Performance

Franklin Electric stock traded up $0.40 during mid-day trading on Tuesday, reaching $93.24. 45,086 shares of the company were exchanged, compared to its average volume of 255,666. The company has a fifty day simple moving average of $95.71 and a 200-day simple moving average of $91.30. Franklin Electric has a 12 month low of $78.87 and a 12 month high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.72 and a quick ratio of 0.77. The firm has a market cap of $4.15 billion, a PE ratio of 24.09, a PEG ratio of 1.85 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. The firm had revenue of $587.43 million for the quarter, compared to the consensus estimate of $566.61 million. Franklin Electric had a return on equity of 14.05% and a net margin of 8.71%. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. As a group, equities research analysts expect that Franklin Electric will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Franklin Electric news, insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $98.03, for a total transaction of $983,829.08. Following the transaction, the insider directly owned 8,171 shares of the company's stock, valued at approximately $801,003.13. The trade was a 55.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.72% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Franklin Electric by 168.5% during the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after buying an additional 182 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock worth $38,000 after acquiring an additional 101 shares in the last quarter. MAI Capital Management raised its position in shares of Franklin Electric by 36.5% in the 2nd quarter. MAI Capital Management now owns 490 shares of the industrial products company's stock worth $44,000 after acquiring an additional 131 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Franklin Electric in the 1st quarter worth about $46,000. Finally, Osaic Holdings Inc. raised its position in shares of Franklin Electric by 24.3% in the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company's stock worth $55,000 after acquiring an additional 119 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Company Profile

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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