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

Impax Asset Management Group plc reduced its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,708 shares of the industrial products company’s stock after selling 128,542 shares during the period. Impax Asset Management Group plc owned about 1.89% of Franklin Electric worth $84,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 107 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Franklin Electric during the fourth quarter worth $29,000. Trust Co. of Vermont acquired a new stake in shares of Franklin Electric during the fourth quarter worth $40,000. CWM LLC lifted its position 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 worth $72,000 after buying an additional 98 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after buying an additional 164 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Trading Down 1.7 %

NASDAQ:FELE opened at $104.24 on Monday. The firm has a market capitalization of $4.76 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.11 and a beta of 1.00. The business 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 current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94.

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

Franklin Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.02%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio (DPR) is presently 27.53%.

Wall Street Analyst Weigh In

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

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.