BlackRock Fund Advisors has recently announced that it has increased stake in Franklin Electric Co. Inc. (NASDAQ:FELE) by 0.06%. After grabbing 6.27 million shares, the institutional investor is now in possession of 4035.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 13.54% having worth around $500.09 million. Moreover, The Vanguard Group, Inc. increased its share by 37959.0 to have a control over 4.46 million shares. And SSgA Funds Management, Inc. raised its holdings to 20764.0 shares by acquiring 2.7 million shares or 5.83% of the stake.
Franklin Electric Co. Inc. (FELE) concluded trading on 01/19/23 at a closing price of $83.68, with 0.16 million shares of worth about $13.41 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.96% during that period and on Thursday the price saw a loss of about -1.67%. Currently the company’s common shares owned by public are about 46.30M shares, out of which, 38.61M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the FELE stock and their offered price forecasts bring an average price target of $86.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $92.00 and could fall to a lowest price of $80.00. The stock’s current price level is 3.07% above of average price target set by the analysts, while a rise to estimated low would result in loss of -4.6% for the stock. However, touching the estimated high of $92.00 would mean a gain of 9.04% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 72 times over the past 12 months. They bought 196,173 shares in 35 of the transactions. In 37 selling transactions, insiders dumped 157,360 shares.
iShares Core S&P Small Cap ETF, Allspring Special Small Cap Value, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Franklin Electric Co. Inc. iShares Core S&P Small Cap ETF is currently holding 2.87 million shares of worth totaling $229.17 million. The company recently came selling 6931.0 shares which brought its stake up to 6.20% of the company’s outstanding shares. Allspring Special Small Cap Value bought 5000.0 shares, after which its hold over company’s outstanding shares expand to 3.68%, leaving 1.71 million shares with the mutual fund that have a worth of about $136.1 million. Vanguard Total Stock Market Index, after buying 1.19 million shares, have now control over 2.57% of the stake in the company. It holds 1732.0 shares of worth $94.92 million.
Franklin Electric Co. Inc. (NASDAQ: FELE) started trading at $84.94, below -$0.16 from concluding price of the previous day. However, the stock later moved at a day high price of 85.07, or with a loss of -1.67%. Stock saw a price change of -1.44% in past 5 days and over the past one month there was a price change of 5.35%. Year-to-date (YTD), FELE shares are showing a performance of 4.93% which decreased to -5.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $68.27 but also hit the highest price of $96.19 during that period. The average intraday trading volume for Franklin Electric Co. Inc. shares is 169.80K. The stock is currently trading 2.83% above its 20-day simple moving average (SMA20), while that difference is up 2.10% for SMA50 and it goes to 3.53% higher than SMA200.
BlackRock Fund Advisors acquired 6.27 million shares of Franklin Electric Co. Inc. having value of about $500.09 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 4035.0 shares in the company valued at close to $337648.8, or have control over 0.06% stake in the company. Franklin Electric Co. Inc. (NASDAQ: FELE) currently have 46.30M outstanding shares and institutions hold larger chunk of about 84.70% of that. Holding of mutual funds in the company is about 30.13% while other institutional holders and individual stake holders have control over 52.56% and 12.86% of the stake respectively.
The stock has a current market capitalization of $3.81B and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 20.95, while it has posted earnings per share of $4.00 in the same period. Its PEG reads 1.56 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 0.26. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FELE, volatility over the week remained 2.25% while standing at 2.29% over the month.
Analysts are in expectations that Franklin Electric Co. Inc. (FELE) stock would likely to be making an EPS of $0.96 in the current quarter, while forecast for next quarter EPS is $0.66 and it is $4.19 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.9 which is $1.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.86 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 52.30% while it is estimated to decrease by -0.73% in next year. EPS is likely to shrink at an annualized rate of 13.40% for next 5-years, compared to annual growth of 13.60% made by the stock over the past 5-years.
Analysts at 4 brokerage firms have issued recommendations for the Franklin Electric Co. Inc. (FELE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 4 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Coverage by Northcoast stated Franklin Electric Co. Inc. (FELE) stock as a Buy in their note to investors on July 15, 2022, suggesting a price target of $82 for the stock. Stock get an Outperform rating from Boenning & Scattergood on March 09, 2022.