Franklin Electric Co., Inc. (NASDAQ: FELE) insider Delancey W. Davis sold 400 shares of the company in a trade dated Friday, June 4. The shares were sold at an average price of $ 82.50, for a total trade of $ 33,000.00. The transaction was disclosed in a file with the SEC, which can be accessed via this link.
Franklin Electric Share traded up $ 0.93 at midday on Friday, reaching $ 83.04. 130,559 shares of the stock traded for an average volume of 178,070. Franklin Electric Co., Inc. has a 12-month low of $ 48.43 and a 12-month high of $ 87.70. The company’s 50-day simple moving average is $ 82.30. The company has a quick ratio of 1.62, a current ratio of 3.17, and a debt ratio of 0.11. The company has a market cap of $ 3.86 billion, a PE ratio of 32.84 and a beta of 1.02.
Franklin Electric (NASDAQ: FELE) last released its quarterly results on Monday, April 26. The industrials company reported EPS of $ 0.59 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.37 of $ 0.22. The company posted revenue of $ 333.05 million in the quarter, compared to analysts’ estimates of $ 300.60 million. Franklin Electric had a net margin of 8.96% and a return on equity of 14.37%. The company’s revenue for the quarter increased 24.9% from the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $ 0.24. Equity research analysts expect Franklin Electric Co., Inc. to post 3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 20. Shareholders of record on Thursday, May 6 received a dividend of $ 0.175. The ex-dividend date of this dividend was Wednesday May 5. This represents an annualized dividend of $ 0.70 and a return of 0.84%. Franklin Electric’s payout ratio is currently 32.11%.
Hedge funds have recently changed their holdings in the company. Quantitative Systematic Strategies LLC increased its stake in Franklin Electric by 71.9% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 15,707 shares of the industrial products company valued at $ 1,240,000 after purchasing an additional 6,570 shares during the period. Principal Financial Group Inc. increased its stake in Franklin Electric shares by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 322,272 shares of the industrial products company valued at $ 22,304,000 after purchasing an additional 2,952 shares during the period. IndexIQ Advisors LLC increased its position in Franklin Electric shares by 14.5% during the 1st quarter. IndexIQ Advisors LLC now owns 5,087 shares of the industrial products company valued at $ 402,000 after purchasing an additional 643 shares last quarter. First Trust Advisors LP increased its position in Franklin Electric shares by 9.7% during the 4th quarter. First Trust Advisors LP now owns 384,724 shares of the industrial products company valued at $ 26,627,000 after purchasing an additional 34,145 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in Franklin Electric shares during the 4th quarter valued at approximately $ 373,000. 76.71% of the shares are held by hedge funds and other institutional investors.
FELE has been the subject of several research analyst reports. Zacks investment research downgraded Franklin Electric shares from a “hold” rating to a “buy” rating and set a target price of $ 92.00 on the stock in a research note on Wednesday, April 28. DA Davidson raised its price target on Franklin Electric shares from $ 70.00 to $ 75 and rated the company “neutral” in a research report published on Monday, March 22. They noted that the move was an appraisal call. Two analysts rated the stock with a conservation rating and three gave the company’s stock a buy rating. The company has an average “Buy” rating and a consensus target price of $ 79.67.
About Franklin Electric
Franklin Electric Co, Inc, along with its subsidiaries, designs, manufactures, and distributes fuel and water pumping systems around the world. It operates in three segments: water systems, refueling 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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