Franklin Electric Co., Inc. (NASDAQ:FELE) Insider Gregg C. Sengstack Sells 1,500 Shares

Franklin Electric Co., Inc. (NASDAQ:FELE) insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the sale, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Franklin Electric Stock Up 8.6 %

Shares of FELE stock traded up $8.67 on Wednesday, reaching $109.47. 100,551 shares of the company’s stock traded hands, compared to its average volume of 175,417. Franklin Electric Co., Inc. has a 12-month low of $85.82 and a 12-month high of $110.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The company has a market capitalization of $5.00 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The business’s 50 day moving average price is $101.53 and its two-hundred day moving average price is $100.09.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a net margin of 9.22% and a return on equity of 15.03%. The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same quarter in the prior year, the firm posted $1.23 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Franklin Electric Co., Inc. will post 3.82 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.91%. Franklin Electric’s dividend payout ratio is 25.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FELE. First Merchants Corp acquired a new stake in Franklin Electric during the second quarter valued at $19,054,000. F M Investments LLC acquired a new stake in Franklin Electric during the second quarter valued at $9,158,000. Assenagon Asset Management S.A. boosted its position in Franklin Electric by 116.5% during the second quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock valued at $15,951,000 after purchasing an additional 89,128 shares during the last quarter. KBC Group NV lifted its position in shares of Franklin Electric by 19.6% in the third quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock worth $40,571,000 after buying an additional 63,436 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its position in shares of Franklin Electric by 328.4% in the second quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock worth $6,206,000 after buying an additional 49,391 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased their target price on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th.

About Franklin Electric

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