Schwab Charles Investment Management Inc. lifted its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 286,570 shares of the industrial products company’s stock after buying an additional 22,344 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Franklin Electric were worth $13,154,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Franklin Electric by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after buying an additional 281 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Franklin Electric during the 3rd quarter valued at about $131,000. Parametrica Management Ltd purchased a new stake in shares of Franklin Electric during the 3rd quarter valued at about $279,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Franklin Electric during the 3rd quarter valued at about $332,000. Finally, Stifel Financial Corp raised its holdings in shares of Franklin Electric by 2.3% during the 2nd quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock valued at $446,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 77.78% of the company’s stock.
Shares of Franklin Electric Co. (NASDAQ FELE) opened at $40.95 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Franklin Electric Co. has a twelve month low of $36.00 and a twelve month high of $47.20. The stock has a market capitalization of $1,936.09, a P/E ratio of 22.34 and a beta of 1.53.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a dividend of $0.108 per share. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $0.43 annualized dividend and a yield of 1.05%. Franklin Electric’s dividend payout ratio is presently 25.90%.
Several equities research analysts recently commented on the company. BidaskClub upgraded Franklin Electric from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Gabelli reiterated a “hold” rating on shares of Franklin Electric in a report on Wednesday, February 21st. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Boenning Scattergood reiterated a “buy” rating and set a $54.00 target price on shares of Franklin Electric in a report on Tuesday, February 20th. Finally, Seaport Global Securities reiterated a “hold” rating and set a $41.00 target price on shares of Franklin Electric in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Franklin Electric has a consensus rating of “Hold” and an average price target of $46.75.
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Franklin Electric Company Profile
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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