DA Davidson Comments on Franklin Electric Co., Inc.'s Q2 2024 Earnings (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) - Equities researchers at DA Davidson issued their Q2 2024 EPS estimates for Franklin Electric in a note issued to investors on Wednesday, May 1st. DA Davidson analyst M. Summerville expects that the industrial products company will post earnings per share of $1.28 for the quarter. DA Davidson has a "Neutral" rating and a $90.00 price objective on the stock. The consensus estimate for Franklin Electric's current full-year earnings is $4.32 per share.

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

Franklin Electric Price Performance

Shares of NASDAQ FELE traded up $1.12 during mid-day trading on Thursday, reaching $98.72. The company's stock had a trading volume of 189,895 shares, compared to its average volume of 186,012. The stock has a market capitalization of $4.54 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.99. Franklin Electric has a 1-year low of $82.61 and a 1-year high of $107.89. The stock has a 50-day moving average of $102.35 and a two-hundred day moving average of $95.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.20 and a current ratio of 2.85.

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

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. Franklin Electric's dividend payout ratio is currently 24.88%.

Insider Activity at Franklin Electric

In other news, CEO Gregg C. Sengstack sold 10,366 shares of the company's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $99.96, for a total value of $1,036,185.36. Following the transaction, the chief executive officer now directly owns 154,993 shares in the company, valued at approximately $15,493,100.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Franklin Electric

Several institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in Franklin Electric during the 4th quarter worth about $26,000. Principal Securities Inc. acquired a new position in shares of Franklin Electric during the fourth quarter worth $33,000. GAMMA Investing LLC raised its stake in Franklin Electric by 88.0% in the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company's stock valued at $34,000 after buying an additional 147 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Franklin Electric during the 3rd quarter worth about $37,000. Finally, Signaturefd LLC increased its holdings in shares of Franklin Electric by 35.3% in the 4th quarter. Signaturefd LLC now owns 541 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 141 shares during the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

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.