Texas Permanent School Fund Corp Has $3.06 Million Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Texas Permanent School Fund Corp trimmed its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,803 shares of the industrial products company’s stock after selling 2,916 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Franklin Electric worth $3,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FELE. GAMMA Investing LLC boosted its position in Franklin Electric by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares during the last quarter. Principal Securities Inc. bought a new position in Franklin Electric in the 4th quarter valued at $33,000. ORG Partners LLC bought a new position in Franklin Electric in the 2nd quarter valued at $36,000. TFO Wealth Partners LLC boosted its position in Franklin Electric by 121,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock valued at $117,000 after buying an additional 1,214 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Franklin Electric in the 4th quarter valued at $147,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Up 1.5 %

Shares of FELE opened at $97.16 on Monday. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. The business’s fifty day moving average price is $100.05 and its two-hundred day moving average price is $100.18. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $108.39.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The firm had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current year.

Franklin Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Franklin Electric’s dividend payout ratio is currently 24.88%.

Insider Transactions at Franklin Electric

In other news, insider Gregg C. Sengstack sold 5,396 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now directly owns 98,093 shares in the company, valued at approximately $10,460,637.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $103.87, for a total transaction of $519,350.00. Following the transaction, the insider now directly owns 108,489 shares in the company, valued at $11,268,752.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gregg C. Sengstack sold 5,396 shares of Franklin Electric stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now owns 98,093 shares in the company, valued at $10,460,637.52. The disclosure for this sale can be found here. Insiders have sold 24,486 shares of company stock worth $2,568,171 in the last three months. Insiders own 2.72% of the company’s stock.

Franklin Electric Company Profile

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