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

Public Sector Pension Investment Board boosted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,192 shares of the industrial products company’s stock after buying an additional 15,387 shares during the period. Public Sector Pension Investment Board’s holdings in Franklin Electric were worth $14,203,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Franklin Electric in the second quarter worth approximately $45,701,000. First Trust Advisors LP raised its stake in Franklin Electric by 44.9% in the 2nd quarter. First Trust Advisors LP now owns 1,552,097 shares of the industrial products company’s stock valued at $139,285,000 after purchasing an additional 481,108 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Franklin Electric by 47.8% in the 2nd quarter. Impax Asset Management Group plc now owns 1,246,729 shares of the industrial products company’s stock valued at $111,881,000 after purchasing an additional 403,115 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Franklin Electric by 70.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 486,523 shares of the industrial products company’s stock worth $43,661,000 after purchasing an additional 200,545 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of Franklin Electric by 90.6% during the third quarter. Tributary Capital Management LLC now owns 312,684 shares of the industrial products company’s stock worth $29,768,000 after buying an additional 148,641 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a research note on Monday, December 29th. Robert W. Baird set a $112.00 price objective on shares of Franklin Electric in a report on Wednesday, October 29th. Finally, Wall Street Zen upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Franklin Electric presently has a consensus rating of “Hold” and an average price target of $112.00.

Franklin Electric Price Performance

Franklin Electric stock opened at $108.94 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $100.01 and a 200 day moving average price of $96.98. Franklin Electric Co., Inc. has a 12-month low of $78.87 and a 12-month high of $111.53. The stock has a market cap of $4.85 billion, a P/E ratio of 35.49, a PEG ratio of 1.93 and a beta of 1.08.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be issued a $0.28 dividend. 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 payout ratio is currently 36.48%.

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.