Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Franklin Electric Co. (NASDAQ:FELE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,167 shares of the industrial products company’s stock, valued at approximately $368,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Franklin Electric by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock worth $365,000 after buying an additional 1,108 shares during the period. First Trust Advisors LP lifted its holdings in Franklin Electric by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 181,920 shares of the industrial products company’s stock worth $8,205,000 after buying an additional 7,410 shares during the period. Wells Fargo & Company MN lifted its holdings in Franklin Electric by 4.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,844,728 shares of the industrial products company’s stock worth $83,197,000 after buying an additional 71,919 shares during the period. Kaizen Advisory LLC lifted its holdings in Franklin Electric by 299.6% during the 2nd quarter. Kaizen Advisory LLC now owns 25,193 shares of the industrial products company’s stock worth $1,136,000 after buying an additional 18,888 shares during the period. Finally, Tributary Capital Management LLC lifted its holdings in Franklin Electric by 19.4% during the 2nd quarter. Tributary Capital Management LLC now owns 458,304 shares of the industrial products company’s stock worth $20,670,000 after buying an additional 74,477 shares during the period. 78.47% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Donald P. Kenney sold 1,500 shares of Franklin Electric stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $49.00, for a total value of $73,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven William Aikman sold 3,500 shares of Franklin Electric stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $49.89, for a total value of $174,615.00. Following the completion of the transaction, the vice president now directly owns 18,515 shares of the company’s stock, valued at $923,713.35. The disclosure for this sale can be found here. Company insiders own 2.52% of the company’s stock.

FELE stock opened at $48.30 on Wednesday. Franklin Electric Co. has a 1-year low of $37.65 and a 1-year high of $50.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.00. The stock has a market capitalization of $2.28 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.58.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The business had revenue of $344.00 million during the quarter, compared to the consensus estimate of $348.65 million. During the same period last year, the business posted $0.58 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. analysts expect that Franklin Electric Co. will post 2.29 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Thursday, August 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is presently 25.00%.

Several research analysts have commented on the company. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. BidaskClub downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. DA Davidson assumed coverage on Franklin Electric in a report on Monday, June 11th. They set a “neutral” rating and a $50.00 target price on the stock. Finally, ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.80.

About Franklin Electric

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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