Public Sector Pension Investment Board Has $8.74 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Public Sector Pension Investment Board cut its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.4% in the third quarter, Holdings Channel reports. The firm owned 83,362 shares of the industrial products company’s stock after selling 3,800 shares during the quarter. Public Sector Pension Investment Board’s holdings in Franklin Electric were worth $8,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the last quarter. ORG Partners LLC bought a new position in Franklin Electric during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 410 shares during the period. CWM LLC increased its stake in Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Franklin Electric in the third quarter valued at approximately $74,000. Institutional investors own 79.98% of the company’s stock.

Analysts Set New Price Targets

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

Franklin Electric Trading Up 1.1 %

NASDAQ FELE opened at $108.30 on Friday. Franklin Electric Co., Inc. has a one year low of $87.95 and a one year high of $111.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 1.06. The firm has a market cap of $4.95 billion, a P/E ratio of 27.42, a P/E/G ratio of 2.34 and a beta of 0.96. The stock’s 50-day moving average is $104.56 and its 200-day moving average is $100.95.

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

Franklin Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.72% of the company’s stock.

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.