Franklin Electric Co. (NASDAQ:FELE) insider Robert J. Stone sold 39,260 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the transaction, the insider now directly owns 39,392 shares in the company, valued at approximately $1,772,640. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Franklin Electric Co. (NASDAQ:FELE) traded up 0.89% during midday trading on Wednesday, hitting $39.60. 62,421 shares of the stock were exchanged. The stock has a market cap of $1.84 billion, a P/E ratio of 21.52 and a beta of 1.60. The firm has a 50 day moving average of $40.89 and a 200-day moving average of $40.68. Franklin Electric Co. has a 12 month low of $34.75 and a 12 month high of $46.50.
Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Franklin Electric had a net margin of 9.90% and a return on equity of 18.37%. The company had revenue of $305.35 million for the quarter, compared to analysts’ expectations of $310.13 million. During the same period in the prior year, the business earned $0.51 EPS. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts anticipate that Franklin Electric Co. will post $1.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.108 per share. This represents a $0.43 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, August 1st. Franklin Electric’s payout ratio is 23.37%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Franklin Electric by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after buying an additional 281 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Franklin Electric by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after buying an additional 196 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Franklin Electric by 13.5% in the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock valued at $125,000 after buying an additional 347 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Franklin Electric by 3.9% in the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after buying an additional 116 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Franklin Electric during the first quarter valued at about $171,000. Institutional investors own 77.67% of the company’s stock.
Several research firms recently commented on FELE. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, April 25th. Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price target (up previously from $44.00) on shares of Franklin Electric in a report on Wednesday, July 26th. Finally, BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th.
Franklin Electric Company Profile
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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