Sargent Investment Group LLC Buys Shares of 2,704 Franklin Electric Co., Inc. (NASDAQ:FELE)

Sargent Investment Group LLC purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,704 shares of the industrial products company’s stock, valued at approximately $260,000.

Other large investors have also recently made changes to their positions in the company. Duality Advisers LP boosted its stake in Franklin Electric by 1.6% during the 1st quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock worth $946,000 after purchasing an additional 137 shares during the last quarter. GAMMA Investing LLC grew its stake in Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 147 shares in the last quarter. Bridge City Capital LLC raised its holdings in Franklin Electric by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 21,399 shares of the industrial products company’s stock valued at $2,286,000 after acquiring an additional 166 shares during the last quarter. Arizona State Retirement System lifted its stake in Franklin Electric by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 10,971 shares of the industrial products company’s stock worth $1,057,000 after purchasing an additional 195 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Franklin Electric by 2.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 11,973 shares of the industrial products company’s stock worth $1,153,000 after purchasing an additional 265 shares during the last quarter. 79.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the sale, the insider now owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the transaction, the insider now directly owns 108,489 shares in the company, valued at approximately $11,268,752.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jay J. Walsh sold 14,090 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the sale, the insider now owns 16,927 shares in the company, valued at $1,770,056.39. The disclosure for this sale can be found here. Insiders sold a total of 24,486 shares of company stock valued at $2,568,171 in the last 90 days. Company insiders own 2.72% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $100.12 on Wednesday. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $108.39. The firm has a market capitalization of $4.61 billion, a PE ratio of 24.91, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. The business has a 50 day simple moving average of $100.25 and a 200-day simple moving average of $100.11.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $543.30 million during the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.27 earnings per share. Equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.25 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 1.00%. Franklin Electric’s payout ratio is 24.88%.

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.