Franklin Electric Co. (NASDAQ:FELE) CEO Gregg C. Sengstack sold 8,008 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.37, for a total value of $435,394.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of FELE stock opened at $54.46 on Friday. The stock’s 50-day simple moving average is $49.25 and its 200-day simple moving average is $46.97. Franklin Electric Co. has a fifty-two week low of $39.92 and a fifty-two week high of $55.63. The firm has a market capitalization of $2.53 billion, a PE ratio of 24.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 2.40.
Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Franklin Electric had a return on equity of 13.46% and a net margin of 7.62%. The business had revenue of $348.41 million during the quarter, compared to analysts’ expectations of $353.82 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Franklin Electric Co. will post 2.17 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in FELE. Impax Asset Management Group plc raised its holdings in shares of Franklin Electric by 10.1% during the second quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock valued at $136,461,000 after acquiring an additional 263,676 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Franklin Electric in the second quarter valued at approximately $9,727,000. Wells Fargo & Company MN increased its holdings in shares of Franklin Electric by 8.5% in the second quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock valued at $95,840,000 after purchasing an additional 158,355 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Franklin Electric by 3,156.7% in the second quarter. AQR Capital Management LLC now owns 137,726 shares of the industrial products company’s stock valued at $6,542,000 after purchasing an additional 133,497 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Franklin Electric by 60.2% in the second quarter. Morgan Stanley now owns 322,596 shares of the industrial products company’s stock valued at $15,325,000 after purchasing an additional 121,166 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a research report on Tuesday, October 15th. Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $54.00.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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