Donald P. Kenney Sells 474 Shares of Franklin Electric Co. (NASDAQ:FELE) Stock
Franklin Electric Co. (NASDAQ:FELE) VP Donald P. Kenney sold 474 shares of Franklin Electric stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $56.50, for a total transaction of $26,781.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ:FELE opened at $54.05 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.16 and a quick ratio of 1.22. Franklin Electric Co. has a 1-year low of $41.25 and a 1-year high of $61.49. The company has a market capitalization of $2.50 billion, a P/E ratio of 27.86 and a beta of 1.07. The firm’s 50 day simple moving average is $51.67 and its two-hundred day simple moving average is $52.18.
Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.09. Franklin Electric had a net margin of 7.16% and a return on equity of 11.70%. The business had revenue of $308.28 million for the quarter, compared to the consensus estimate of $298.26 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. On average, sell-side analysts anticipate that Franklin Electric Co. will post 1.84 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of FELE. UBS Asset Management Americas Inc. lifted its holdings in Franklin Electric by 11.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 41,766 shares of the industrial products company’s stock valued at $2,394,000 after purchasing an additional 4,251 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Franklin Electric during the fourth quarter valued at approximately $821,000. Alliancebernstein L.P. lifted its holdings in shares of Franklin Electric by 2.4% in the fourth quarter. Alliancebernstein L.P. now owns 91,486 shares of the industrial products company’s stock worth $5,244,000 after buying an additional 2,114 shares in the last quarter. Profund Advisors LLC purchased a new position in shares of Franklin Electric in the fourth quarter worth $242,000. Finally, Mason Street Advisors LLC lifted its holdings in shares of Franklin Electric by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 13,403 shares of the industrial products company’s stock worth $768,000 after buying an additional 344 shares in the last quarter. 76.54% of the stock is currently owned by institutional investors and hedge funds.
FELE has been the topic of a number of research reports. Zacks Investment Research raised shares of Franklin Electric from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. BidaskClub raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Friday, July 17th. DA Davidson downgraded shares of Franklin Electric from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Thursday, July 2nd. Finally, Sidoti initiated coverage on shares of Franklin Electric in a report on Wednesday, July 1st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.00.
Franklin Electric Company Profile
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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