The demand for industrial and irrigation equipment is one that has seen considerable increase in the last year. This includes industrial and residential groundwater and wastewater pumps. One company that stands to benefit more from this increase is Franklin Electric Co., Inc. (NASDAQ:FELE).
Franklin Electric closed the day on July 5, 2013, trading at $36.41. Although the company has experienced increase in spending, which will slightly impact Q2 share profits, investors are sure to reap from spending in the later part of 2013 to early 2014. Although the industry it operates in is cyclical, Franklin Electric is very much ahead because of its expansion strategies.
Story of its growth
Franklin Electric was founded in 1944 as a small...
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