Public Sector Pension Investment Board Boosts Stock Position in Franklin Electric Co., Inc. $FELE

Public Sector Pension Investment Board lifted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,192 shares of the industrial products company’s stock after purchasing an additional 15,387 shares during the quarter. Public Sector Pension Investment Board owned about 0.34% of Franklin Electric worth $14,203,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP raised its position in Franklin Electric by 44.9% during the 2nd quarter. First Trust Advisors LP now owns 1,552,097 shares of the industrial products company’s stock worth $139,285,000 after buying an additional 481,108 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Franklin Electric by 47.8% in the second quarter. Impax Asset Management Group plc now owns 1,246,729 shares of the industrial products company’s stock worth $111,881,000 after acquiring an additional 403,115 shares during the period. Invesco Ltd. raised its holdings in shares of Franklin Electric by 9.2% during the second quarter. Invesco Ltd. now owns 607,040 shares of the industrial products company’s stock worth $54,476,000 after purchasing an additional 50,895 shares during the last quarter. Norges Bank acquired a new position in Franklin Electric during the second quarter valued at $45,701,000. Finally, Qube Research & Technologies Ltd lifted its position in Franklin Electric by 70.1% during the second quarter. Qube Research & Technologies Ltd now owns 486,523 shares of the industrial products company’s stock valued at $43,661,000 after purchasing an additional 200,545 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

Shares of Franklin Electric stock opened at $108.94 on Friday. The firm has a market cap of $4.85 billion, a PE ratio of 35.49, a P/E/G ratio of 1.93 and a beta of 1.08. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.53. The company has a quick ratio of 1.12, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $100.01 and a 200 day moving average price of $96.98.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be given a dividend of $0.28 per share. This is a boost from Franklin Electric’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, February 5th. Franklin Electric’s dividend payout ratio (DPR) is currently 36.48%.

Wall Street Analyst Weigh In

FELE has been the topic of several analyst reports. Wall Street Zen raised Franklin Electric from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a report on Monday, December 29th. Finally, Robert W. Baird set a $112.00 price target on Franklin Electric in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Franklin Electric presently has a consensus rating of “Hold” and a consensus target price of $112.00.

Franklin Electric Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.