Franklin Electric Co., Inc. (NASDAQ:FELE) Stock Position Lowered by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 13.0% during the fourth quarter, Holdings Channel reports. The firm owned 862,708 shares of the industrial products company’s stock after selling 128,542 shares during the period. Impax Asset Management Group plc’s holdings in Franklin Electric were worth $84,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FELE. Blue Trust Inc. raised its position in Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the period. Spire Wealth Management bought a new position in Franklin Electric during the fourth quarter valued at about $29,000. Trust Co. of Vermont acquired a new position in shares of Franklin Electric during the 4th quarter valued at about $40,000. CWM LLC raised its stake in shares of Franklin Electric by 16.7% in the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 98 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Franklin Electric by 29.9% during the third quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.

Franklin Electric Price Performance

NASDAQ FELE opened at $104.24 on Monday. The stock has a market capitalization of $4.76 billion, a PE ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.00. The stock has a 50-day simple moving average of $99.32 and a 200 day simple moving average of $101.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.02%. Franklin Electric’s payout ratio is presently 27.53%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th.

About Franklin Electric

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.