Franklin Electric Co. (NASDAQ:FELE) – Gabelli increased their FY2016 earnings per share estimates for Franklin Electric in a report released on Wednesday. Gabelli analyst J. Garza now forecasts that the firm will post earnings of $1.65 per share for the year, up from their prior forecast of $1.60.
Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $252.10 million for the quarter, compared to analysts’ expectations of $255.60 million. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS.
FELE has been the topic of a number of other reports. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, May 3rd. Sterne Agee CRT reiterated a “buy” rating on shares of Franklin Electric in a research note on Monday, May 16th. Seaport Global Securities cut shares of Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Friday, June 10th. Finally, Boenning Scattergood upgraded shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Monday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Franklin Electric presently has an average rating of “Buy” and a consensus price target of $35.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 18th. Investors of record on Thursday, August 4th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, August 2nd.
In related news, VP Donald P. Kenney sold 1,000 shares of Franklin Electric stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $33.27, for a total transaction of $33,270.00. Following the sale, the vice president now directly owns 19,627 shares in the company, valued at $652,990.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John J. Haines sold 4,546 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $34.00, for a total transaction of $154,564.00. Following the completion of the sale, the chief financial officer now owns 39,860 shares in the company, valued at $1,355,240. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Franklin Electric stock. Russell Frank Co raised its stake in Franklin Electric Co. (NASDAQ:FELE) by 103.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 127,966 shares of the company’s stock after buying an additional 65,204 shares during the period. Russell Frank Co owned about 0.28% of Franklin Electric worth $3,543,000 as of its most recent SEC filing.
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
