Public Sector Pension Investment Board Sells 3,800 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Public Sector Pension Investment Board reduced its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,362 shares of the industrial products company’s stock after selling 3,800 shares during the quarter. Public Sector Pension Investment Board owned 0.18% of Franklin Electric worth $8,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FELE. Allspring Global Investments Holdings LLC increased 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 in the last quarter. Earnest Partners LLC increased its holdings in shares of Franklin Electric by 2.6% during the second 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 in the last quarter. Boston Trust Walden Corp raised its stake in shares of Franklin Electric by 0.6% in the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after acquiring an additional 3,847 shares during the last quarter. KBC Group NV boosted 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 worth $40,571,000 after acquiring an additional 63,436 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in 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 during the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Activity

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

Franklin Electric Trading Up 1.1 %

FELE opened at $108.30 on Friday. Franklin Electric Co., Inc. has a 1-year low of $87.95 and a 1-year high of $111.94. The stock has a market capitalization of $4.95 billion, a PE ratio of 27.42, a PEG ratio of 2.34 and a beta of 0.96. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $104.56 and a two-hundred day moving average price of $100.95.

Franklin Electric (NASDAQ:FELE) last issued 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 analyst estimates of $551.08 million. During the same period in the prior year, the business earned $1.23 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend 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%.

Wall Street Analysts Forecast Growth

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

Franklin Electric Profile

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.