Insider Selling: Franklin Electric Co., Inc. (NASDAQ:FELE) VP Sells 7,079 Shares of Stock

Franklin Electric Co., Inc. (NASDAQ:FELEGet Rating) VP Paul Chhabra sold 7,079 shares of Franklin Electric stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $75.25, for a total value of $532,694.75. Following the completion of the sale, the vice president now owns 10,911 shares of the company’s stock, valued at $821,052.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

NASDAQ FELE traded down $0.37 during trading hours on Tuesday, reaching $76.27. The company’s stock had a trading volume of 3,614 shares, compared to its average volume of 194,358. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 23.29 and a beta of 1.03. Franklin Electric Co., Inc. has a 1 year low of $68.27 and a 1 year high of $96.95. The firm’s 50-day moving average price is $75.62 and its 200-day moving average price is $83.55. The company has a quick ratio of 0.62, a current ratio of 1.70 and a debt-to-equity ratio of 0.09.

Franklin Electric (NASDAQ:FELEGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $451.50 million for the quarter, compared to analysts’ expectations of $424.62 million. Franklin Electric had a return on equity of 16.08% and a net margin of 8.75%. The company’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 3.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Wednesday, May 4th. This represents a $0.78 annualized dividend and a dividend yield of 1.02%. Franklin Electric’s dividend payout ratio (DPR) is 23.71%.

A number of equities research analysts have issued reports on FELE shares. Seaport Res Ptn upgraded Franklin Electric from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. StockNews.com raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Robert W. Baird lowered their price objective on Franklin Electric from $93.00 to $86.00 in a research report on Wednesday, April 27th. Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Wednesday, March 9th. Finally, Zacks Investment Research raised Franklin Electric from a “sell” rating to a “hold” rating in a report on Tuesday, May 31st.

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Franklin Electric by 9.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,490 shares of the industrial products company’s stock valued at $1,084,000 after purchasing an additional 1,050 shares during the last quarter. O Shares Investment Advisers LLC grew its position in Franklin Electric by 2.3% in the 4th quarter. O Shares Investment Advisers LLC now owns 7,697 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 174 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Franklin Electric by 159.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 45,720 shares of the industrial products company’s stock valued at $3,651,000 after acquiring an additional 28,111 shares during the last quarter. Connable Office Inc. grew its position in Franklin Electric by 6.5% in the 4th quarter. Connable Office Inc. now owns 7,741 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 471 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Franklin Electric by 11.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 53,663 shares of the industrial products company’s stock valued at $4,285,000 after acquiring an additional 5,521 shares during the last quarter. 77.59% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Electric (Get Rating)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.

Further Reading

Insider Buying and Selling by Quarter for Franklin Electric (NASDAQ:FELE)

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