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

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FELE. Allspring Global Investments Holdings LLC lifted its position in shares of Franklin Electric by 2.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock worth $212,810,000 after purchasing an additional 40,248 shares during the last quarter. Earnest Partners LLC lifted its holdings in Franklin Electric by 2.6% during the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock worth $150,560,000 after buying an additional 39,478 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 3,847 shares in the last quarter. KBC Group NV increased its holdings in shares of Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company’s stock valued at $40,571,000 after acquiring an additional 63,436 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Franklin Electric by 6.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock worth $34,833,000 after acquiring an additional 21,890 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Performance

NASDAQ FELE opened at $109.06 on Monday. The company has a fifty day moving average of $103.86 and a two-hundred day moving average of $100.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 1 year low of $87.65 and a 1 year high of $110.97. The company has a market capitalization of $4.98 billion, a PE ratio of 27.61, a P/E/G ratio of 2.33 and a beta of 0.96.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $551.08 million. During the same quarter last year, the company posted $1.23 EPS. Franklin Electric’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.92%. Franklin Electric’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.72% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

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.