Franklin Electric (NASDAQ:FELE) Insider Jonathan Grandon Sells 8,547 Shares

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Jonathan Grandon sold 8,547 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total transaction of $883,759.80. Following the transaction, the insider directly owned 7,509 shares in the company, valued at approximately $776,430.60. This represents a 53.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Franklin Electric Stock Down 2.9%

Shares of NASDAQ FELE opened at $99.63 on Thursday. The firm has a market cap of $4.40 billion, a PE ratio of 30.01, a P/E/G ratio of 1.87 and a beta of 1.05. Franklin Electric Co., Inc. has a 12-month low of $84.31 and a 12-month high of $111.53. The company’s fifty day simple moving average is $98.98 and its 200 day simple moving average is $98.14. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Franklin Electric had a net margin of 6.91% and a return on equity of 14.86%. The business had revenue of $500.44 million for the quarter, compared to analyst estimates of $479.21 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Franklin Electric’s revenue was up 9.9% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.400-4.600 EPS. As a group, sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.58 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 7th. Franklin Electric’s dividend payout ratio (DPR) is 33.73%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of Franklin Electric by 20.0% during the first quarter. NewEdge Advisors LLC now owns 7,969 shares of the industrial products company’s stock valued at $734,000 after purchasing an additional 1,329 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Franklin Electric by 81.4% during the first quarter. Segall Bryant & Hamill LLC now owns 481,906 shares of the industrial products company’s stock valued at $44,417,000 after purchasing an additional 216,250 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Franklin Electric by 11.0% during the first quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company’s stock valued at $75,956,000 after purchasing an additional 81,988 shares in the last quarter. Amundi lifted its position in shares of Franklin Electric by 25.2% during the first quarter. Amundi now owns 881,425 shares of the industrial products company’s stock valued at $81,225,000 after purchasing an additional 177,433 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Franklin Electric by 21.8% during the first quarter. EverSource Wealth Advisors LLC now owns 977 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 175 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Franklin Electric in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a research note on Tuesday. Finally, Wall Street Zen raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Franklin Electric has an average rating of “Hold” and a consensus price target of $106.00.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.