Caprock Group LLC Makes New $208,000 Investment in Franklin Electric Co., Inc. (NASDAQ:FELE)

Caprock Group LLC purchased a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,982 shares of the industrial products company’s stock, valued at approximately $208,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Franklin Electric in the second quarter valued at $36,000. GAMMA Investing LLC boosted its stake in shares of Franklin Electric by 130.6% during the second quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 410 shares during the last quarter. CWM LLC increased its position in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Franklin Electric during the 3rd quarter worth about $74,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Franklin Electric Trading Up 2.3 %

Shares of Franklin Electric stock opened at $109.06 on Monday. The firm has a market cap of $4.98 billion, a PE ratio of 27.61, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a fifty-two week low of $87.65 and a fifty-two week high of $110.97. The business’s fifty day moving average is $103.86 and its two-hundred day moving average is $100.72.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business had revenue of $531.40 million during the quarter, compared to analyst estimates of $551.08 million. During the same period in the previous year, the business posted $1.23 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts anticipate that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is 25.32%.

Insiders Place Their Bets

In related news, insider Gregg C. Sengstack sold 1,500 shares of the 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 transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. This trade represents a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.72% of the stock is currently owned by insiders.

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.