Public Sector Pension investment Board cut its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 27.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,851 shares of the industrial products company’s stock after selling 7,400 shares during the quarter. Public Sector Pension investment Board’s holdings in Franklin Electric Co. were worth $822,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Manchester Capital Management LLC grew its holdings in shares of Franklin Electric Co. by 0.3% in the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock valued at $792,000 after purchasing an additional 50 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Franklin Electric Co. by 0.5% in the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock valued at $833,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 196 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Franklin Electric Co. by 1.0% in the second quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock valued at $1,165,000 after purchasing an additional 276 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Franklin Electric Co. by 4.9% in the second quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares in the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.

FELE has been the subject of a number of recent research reports. BidaskClub lowered shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Boenning Scattergood reissued an “outperform” rating on shares of Franklin Electric Co. in a report on Tuesday, September 5th. Zacks Investment Research raised shares of Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Wednesday, July 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $45.00 target price on shares of Franklin Electric Co. in a report on Wednesday.

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Franklin Electric Co., Inc. (FELE) opened at 46.20 on Thursday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 25.11 and a beta of 1.63. The firm’s 50-day moving average is $40.83 and its 200 day moving average is $40.57. Franklin Electric Co., Inc. has a 1-year low of $34.75 and a 1-year high of $46.95.

Franklin Electric Co. (NASDAQ:FELE) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The business had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. During the same period last year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities analysts anticipate that Franklin Electric Co., Inc. will post $1.92 EPS for the current fiscal year.

In other Franklin Electric Co. news, insider Robert J. Stone sold 39,260 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the completion of the sale, the insider now directly owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.54% of the stock is owned by company insiders.

Franklin Electric Co. 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.

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

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