Franklin Electric Co. (NASDAQ:FELE) insider Robert J. Stone sold 10,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the sale, the insider now directly owns 36,359 shares in the company, valued at $1,455,450.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Franklin Electric Co. (NASDAQ:FELE) opened at 39.67 on Friday. The firm’s 50-day moving average is $38.32 and its 200 day moving average is $34.65. Franklin Electric Co. has a 12-month low of $23.75 and a 12-month high of $40.32. The stock has a market capitalization of $1.83 billion, a P/E ratio of 25.76 and a beta of 1.67.
Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $252.10 million for the quarter, compared to analysts’ expectations of $255.60 million. Franklin Electric had a net margin of 8.07% and a return on equity of 13.27%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Equities analysts expect that Franklin Electric Co. will post $1.66 EPS for the current year.
A number of brokerages recently issued reports on FELE. Zacks Investment Research downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Seaport Global Securities downgraded shares of Franklin Electric from an “accumulate” rating to a “neutral” rating and set a $36.00 price target on the stock. in a report on Friday, June 10th. Finally, Boenning Scattergood raised shares of Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Franklin Electric presently has an average rating of “Hold” and an average price target of $35.00.
Several institutional investors have recently made changes to their positions in the stock. Impax Asset Management LTD boosted its position in shares of Franklin Electric by 184.1% in the first quarter. Impax Asset Management LTD now owns 1,115,954 shares of the company’s stock worth $35,896,000 after buying an additional 723,131 shares during the last quarter. Norges Bank acquired a new position in shares of Franklin Electric during the fourth quarter worth approximately $9,429,000. Emerald Acquisition Ltd. acquired a new position in shares of Franklin Electric during the second quarter worth approximately $11,009,000. Neuberger Berman Group LLC boosted its position in shares of Franklin Electric by 10.4% in the second quarter. Neuberger Berman Group LLC now owns 1,805,375 shares of the company’s stock worth $59,668,000 after buying an additional 170,665 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new position in shares of Franklin Electric during the second quarter worth approximately $5,507,000. 78.91% of the stock is currently owned by institutional investors and hedge funds.
About Franklin Electric
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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