There has been some selling insider activity on Franklin Electric Co., Inc. (NASDAQ:FELE) recently. VP John J. Haines disclosed the sale of 4,000 shares of (FELE). The shares were purchased at an average price of $41.00. Haines now owns $1,622,575 of the stock per the Form 4 SEC filing. Delancey W. Davis, President, Headwater Companies disclosed the sale of 4,071 shares. The shares were sold on May 22nd for an average price of $34.45. The President, Headwater Companies now owns $543,552 of the stock according to the SEC filing.
Robert J. Stone, Sr VP let go of $420,200 worth of shares at a price of $42.02 on November 11th. Stone now owns $1,107,605 of stock as reported to the SEC.
Franklin Electric Co., Inc., launched on November 12, 1946, designs, manufactures and distributes water and fuel pumping systems, consisting of primarily of submersible motors, pumps, electronic controls and related parts and equipment. The Business’s segments include Water Systems segment, the Fueling Systems segment and Other. The Business’s water pumping systems move fresh and waste water for the housing, agriculture, and other industrial end markets. The Business’s Water Systems and Fueling Systems products, and related equipment are sold to specialty distributors and some original equipment manufacturers (OEMs), as well as industrial and petroleum equipment distributors and oil and utility companies..
These funds have also shifted positions in (FELE). Morgan Stanley reduced its holdings by selling 1,627 shares a decrease of 6.1%. Morgan Stanley now holds 25,081 shares with a value of $1,080,000. The total value of its holdings increased 3.9%. As of quarter end Schroder Investment Management Group had acquired a total of 202,922 shares growing its holdings by 34.6%. The value of the company’s investment in Franklin Electric Co., Inc. went from $22,842,000 to $33,343,000 a change of 46.0% since the last quarter.
As of the end of the quarter Goldman Sachs Group Inc had bought 1,433 shares growing its position 25.1%. The value of the investment in FELE increased from $222,000 to $307,000 increasing 38.3% quarter to quarter. As of the end of the quarter Earnest Partners LLC had sold a total of 32,951 shares trimming its stake by 1.6%. The value in dollars increased from $82,036,000 to $89,369,000 a change of $7,333,000 for the reporting period.
On July 11 the company was changed to a “Outperform” by Boenning & Scattergood which is up from the previous “” rating. On June 10 the company was downgraded from “” to “Neutral” and a price target of $36.00 was set in an announcement from Seaport Global.
On January 12 the stock rating was upgraded to “Neutral” from “Sell” in a report from Ladenburg Thalmann. Boenning & Scattergood began coverage with a rating of “Neutral”.
On September 30 analysts at Alembic added FELE to its research portfolio setting a rating of “Overweight” and establishing a price target of $32.00. On July 13, 2015 the stock rating was set at “Neutral” in a report from Hilliard Lyons down from the previous “Buy” rating.
In the market the company is trading unchanged since yesterday’s close of $41.05. The company recently announced a dividend that was paid on Thursday the 18th of May 2017. The dividend was $0.108 per share for the quarter which is $0.43 annualized. The dividend yield was $1.05. The ex-dividend date was set for Tuesday the 2nd of May 2017.
The stock is trading at $41.05 a tad higher than $39.29, the stock’s 50 day moving average and which is a tad above the 200 day moving average of $40.46. The 50 day moving average was up $1.76 and the 200 day average moved up $0.59.
Franklin Electric Co., Inc. currently has a P/E ratio of 24.18 and the market value is 1.91B. As of the last earnings report the EPS was $1.70 and is expected to be $1.80 for the current year with 46,451,000 shares outstanding. Next quarter’s EPS is expected be $0.50 with next year’s EPS anticipated to be $2.07.
Short traders are feeling a little more bearish on shares of Franklin Electric Co., Inc. of late as indicated by the change in short interest. The stock had a rise in short interest of 23.90% as of May 31, 2017 from the last reporting period. Short interest grew from 789,308 to 977,987 over that period. With short interest at 977,987 and short average daily volume at 172,894, days to cover is 5.7 and the short interest percentage is 0.02% as of May 31.