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

Sargent Investment Group LLC purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELEFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,704 shares of the industrial products company’s stock, valued at approximately $260,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Franklin Electric during the 4th quarter valued at about $48,711,000. First Merchants Corp purchased a new position in shares of Franklin Electric in the second quarter valued at approximately $19,054,000. Robeco Schweiz AG grew its holdings in shares of Franklin Electric by 28.3% in the fourth quarter. Robeco Schweiz AG now owns 474,747 shares of the industrial products company’s stock valued at $45,884,000 after purchasing an additional 104,751 shares in the last quarter. F M Investments LLC purchased a new stake in Franklin Electric during the 2nd quarter worth approximately $9,158,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Franklin Electric by 116.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock worth $15,951,000 after buying an additional 89,128 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of FELE stock opened at $100.12 on Wednesday. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $108.39. The firm has a 50 day moving average of $100.25 and a two-hundred day moving average of $100.11. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.61 billion, a PE ratio of 24.91, a P/E/G ratio of 1.88 and a beta of 0.95.

Franklin Electric (NASDAQ:FELEGet Free Report) last released 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). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The company had revenue of $543.30 million during the quarter, compared to analysts’ expectations of $570.80 million. During the same quarter last year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, research analysts predict that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

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

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the sale, the insider now directly owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric stock in a transaction dated Friday, July 26th. The stock was 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 directly owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. The disclosure for this sale can be found here. Insiders have sold a total of 24,486 shares of company stock valued at $2,568,171 over the last 90 days. 2.72% of the stock is owned by corporate insiders.

Franklin Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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