David M. Wathen Sells 25,000 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) Stock

Franklin Electric Co., Inc. (NASDAQ:FELE) Director David M. Wathen sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $86.70, for a total value of $2,167,500.00. Following the transaction, the director now directly owns 74,402 shares of the company’s stock, valued at approximately $6,450,653.40. This trade represents a 25.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Franklin Electric Stock Performance

Shares of NASDAQ FELE traded up $2.57 during trading on Tuesday, reaching $87.29. 235,726 shares of the company traded hands, compared to its average volume of 207,719. The firm has a 50 day simple moving average of $89.13 and a 200-day simple moving average of $97.37. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.98 billion, a PE ratio of 22.67, a P/E/G ratio of 2.11 and a beta of 1.08. Franklin Electric Co., Inc. has a 52-week low of $78.87 and a 52-week high of $111.94.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). The company had revenue of $455.25 million during the quarter, compared to analysts’ expectations of $471.21 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.06 annualized dividend and a yield of 1.21%. Franklin Electric’s dividend payout ratio (DPR) is presently 27.75%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Franklin Electric by 168.5% during the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Spire Wealth Management bought a new stake in Franklin Electric during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in Franklin Electric in the 1st quarter valued at $46,000. Blue Trust Inc. increased its stake in Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 198 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Franklin Electric in the 4th quarter worth about $52,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Robert W. Baird dropped their price objective on Franklin Electric from $111.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th.

Franklin Electric Company Profile

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.