Franklin Electric Co., Inc. (NASDAQ:FELE) Expected to Post Q3 2024 Earnings of $1.30 Per Share

Franklin Electric Co., Inc. (NASDAQ:FELE) – Investment analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Franklin Electric in a research note issued to investors on Thursday, July 25th. DA Davidson analyst M. Summerville forecasts that the industrial products company will post earnings of $1.30 per share for the quarter. DA Davidson currently 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 $4.27 per share. DA Davidson also issued estimates for Franklin Electric’s FY2024 earnings at $4.20 EPS and FY2025 earnings at $4.50 EPS.

Separately, StockNews.com lowered shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th.

Franklin Electric Trading Up 2.6 %

FELE stock opened at $103.75 on Friday. Franklin Electric has a 12 month low of $82.61 and a 12 month high of $107.89. The firm’s 50-day moving average is $98.05 and its 200 day moving average is $99.31. The company has a market capitalization of $4.78 billion, a PE ratio of 25.81, a P/E/G ratio of 1.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.17.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. During the same period last year, the company earned $1.27 EPS. The business’s revenue was down 4.6% compared to the same quarter last year.

Hedge Funds Weigh In On Franklin Electric

A number of large investors have recently added to or reduced their stakes in FELE. Pacer Advisors Inc. bought a new stake in shares of Franklin Electric in the 4th quarter valued at about $26,000. Global Retirement Partners LLC boosted its stake in Franklin Electric by 51.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,094 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 374 shares in the last quarter. Fenimore Asset Management Inc. grew its holdings in Franklin Electric by 0.6% in the fourth quarter. Fenimore Asset Management Inc. now owns 143,345 shares of the industrial products company’s stock worth $13,854,000 after purchasing an additional 920 shares during the last quarter. Trust Point Inc. acquired a new position in shares of Franklin Electric during the fourth quarter worth $729,000. Finally, Boston Trust Walden Corp lifted its holdings in shares of Franklin Electric by 1.3% during the 4th quarter. Boston Trust Walden Corp now owns 505,303 shares of the industrial products company’s stock valued at $48,838,000 after purchasing an additional 6,662 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $102.06, for a total transaction of $225,960.84. Following the transaction, the insider now directly owns 8,014 shares in the company, valued at approximately $817,908.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Franklin Electric news, insider Delancey W. Davis sold 2,214 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $102.06, for a total transaction of $225,960.84. Following the completion of the sale, the insider now owns 8,014 shares in the company, valued at $817,908.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jonathan M. Grandon sold 1,391 shares of Franklin Electric stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $98.00, for a total value of $136,318.00. Following the completion of the transaction, the insider now owns 18,103 shares in the company, valued at $1,774,094. The disclosure for this sale can be found here. 2.72% of the stock is currently owned by corporate insiders.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. Franklin Electric’s dividend payout ratio is currently 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.