Franklin Electric Co. (FELE) Insider Robert J. Stone Sells 10,000 Shares
Franklin Electric Co. (NASDAQ:FELE) insider Robert J. Stone sold 10,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $42.04, for a total value of $420,400.00. Following the completion of the sale, the insider now directly owns 26,459 shares of the company’s stock, valued at $1,112,336.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Franklin Electric Co. (NASDAQ:FELE) opened at 41.85 on Tuesday. The stock has a market capitalization of $1.94 billion, a P/E ratio of 26.01 and a beta of 1.48. The firm’s 50-day moving average price is $38.51 and its 200 day moving average price is $36.41. Franklin Electric Co. has a 1-year low of $23.75 and a 1-year high of $43.00.
Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.01. The business had revenue of $239.80 million for the quarter, compared to analyst estimates of $244.09 million. Franklin Electric had a net margin of 8.31% and a return on equity of 13.01%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. Analysts expect that Franklin Electric Co. will post $1.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. Franklin Electric’s dividend payout ratio (DPR) is 24.84%.
Separately, Zacks Investment Research raised Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Monday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $36.00.
A number of institutional investors have recently bought and sold shares of FELE. Capstone Asset Management Co. increased its position in Franklin Electric by 0.8% in the third quarter. Capstone Asset Management Co. now owns 11,935 shares of the company’s stock worth $486,000 after buying an additional 90 shares during the period. Louisiana State Employees Retirement System increased its position in Franklin Electric by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the company’s stock worth $562,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. increased its position in Franklin Electric by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,394 shares of the company’s stock worth $210,000 after buying an additional 100 shares during the period. Raymond James & Associates increased its position in Franklin Electric by 1.2% in the second quarter. Raymond James & Associates now owns 8,611 shares of the company’s stock worth $285,000 after buying an additional 106 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in Franklin Electric by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,500 shares of the company’s stock worth $346,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 80.17% of the company’s stock.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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