Texas Permanent School Fund Increases Holdings in Franklin Electric Co. (FELE)

Texas Permanent School Fund raised its holdings in shares of Franklin Electric Co. (NASDAQ:FELE) by 2.7% in the 1st quarter, Holdings Channel reports. The firm owned 26,078 shares of the industrial products company’s stock after buying an additional 688 shares during the period. Texas Permanent School Fund’s holdings in Franklin Electric were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in FELE. Teachers Advisors LLC increased its stake in shares of Franklin Electric by 1.3% during the third quarter. Teachers Advisors LLC now owns 91,249 shares of the industrial products company’s stock worth $4,312,000 after acquiring an additional 1,187 shares during the period. Morgan Stanley increased its stake in shares of Franklin Electric by 34.9% during the third quarter. Morgan Stanley now owns 408,447 shares of the industrial products company’s stock worth $19,299,000 after acquiring an additional 105,636 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Franklin Electric by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 12,956 shares of the industrial products company’s stock worth $555,000 after acquiring an additional 235 shares during the period. Bank of Montreal Can increased its stake in shares of Franklin Electric by 7.3% during the fourth quarter. Bank of Montreal Can now owns 3,322 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 226 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Franklin Electric during the fourth quarter worth about $603,000. 76.33% of the stock is owned by institutional investors and hedge funds.

Shares of FELE opened at $44.79 on Friday. The company has a current ratio of 2.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. Franklin Electric Co. has a twelve month low of $38.87 and a twelve month high of $55.59. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 3.89 and a beta of 1.32.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.19). Franklin Electric had a return on equity of 13.11% and a net margin of 7.25%. The company had revenue of $290.70 million for the quarter, compared to analyst estimates of $304.61 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Franklin Electric Co. will post 2.35 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.145 per share. The ex-dividend date was Wednesday, May 1st. This represents a $0.58 annualized dividend and a yield of 1.29%. Franklin Electric’s payout ratio is currently 25.66%.

In other Franklin Electric news, VP Donald P. Kenney sold 1,335 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $46.40, for a total transaction of $61,944.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas R. Verhage sold 2,000 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $55.21, for a total transaction of $110,420.00. The disclosure for this sale can be found here. Insiders have sold 10,425 shares of company stock worth $547,863 over the last 90 days. 2.88% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on FELE. Zacks Investment Research lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. ValuEngine lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Boenning Scattergood lowered shares of Franklin Electric from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.00.

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Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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

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