Insider Selling: Franklin Electric (NASDAQ:FELE) Insider Sells 10,036 Shares of Stock

Key Points

• Insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock at an average price of $98.03, reducing his ownership by 55.12%.
• The company reported a quarterly earnings per share of $1.31, exceeding analysts' expectations of $1.28, with revenues of $587.43 million.
• Franklin Electric declared a quarterly dividend of $0.265 per share, which represents an annualized yield of 1.1%.

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) insider Jonathan M. Grandon sold 10,036 shares of Franklin Electric stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $98.03, for a total value of $983,829.08. Following the sale, the insider directly owned 8,171 shares of the company's stock, valued at approximately $801,003.13. This trade represents a 55.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Franklin Electric Stock Down 1.9%

Shares of FELE traded down $1.86 during midday trading on Wednesday, reaching $95.81. 147,693 shares of the stock were exchanged, compared to its average volume of 286,328. The company has a market capitalization of $4.26 billion, a P/E ratio of 24.76, a PEG ratio of 1.97 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The company's 50 day moving average is $91.79 and its two-hundred day moving average is $92.67.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. Franklin Electric had a net margin of 8.71% and a return on equity of 14.05%. The company had revenue of $587.43 million during the quarter, compared to analyst estimates of $566.61 million. Franklin Electric has set its FY 2025 guidance at 3.950-4.250 EPS. On average, sell-side analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 7th. Franklin Electric's dividend payout ratio (DPR) is presently 27.39%.

Franklin Electric declared that its Board of Directors has initiated a stock buyback plan on Friday, June 13th that allows the company to buyback 1,200,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Franklin Electric

Large investors have recently made changes to their positions in the business. Monarch Capital Management Inc. boosted its position in shares of Franklin Electric by 0.7% in the 2nd quarter. Monarch Capital Management Inc. now owns 97,403 shares of the industrial products company's stock worth $8,741,000 after purchasing an additional 670 shares in the last quarter. Caxton Associates LLP acquired a new position in Franklin Electric during the 2nd quarter valued at about $313,000. Public Sector Pension Investment Board raised its stake in Franklin Electric by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 133,805 shares of the industrial products company's stock valued at $12,008,000 after buying an additional 9,196 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Franklin Electric by 735.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the industrial products company's stock worth $409,000 after acquiring an additional 4,014 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Franklin Electric by 5.4% in the second quarter. Corient Private Wealth LLC now owns 4,245 shares of the industrial products company's stock worth $381,000 after acquiring an additional 217 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on FELE shares. Wall Street Zen upgraded Franklin Electric from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird boosted their price target on Franklin Electric from $94.00 to $107.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Franklin Electric currently has an average rating of "Hold" and an average target price of $107.00.

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.