Impax Asset Management Group plc cut its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 13.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 862,708 shares of the industrial products company's stock after selling 128,542 shares during the quarter. Impax Asset Management Group plc owned 1.89% of Franklin Electric worth $84,071,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in FELE. Allianz Asset Management GmbH raised its position in Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares during the period. KBC Group NV lifted its stake in shares of Franklin Electric by 19.6% in the 3rd quarter. KBC Group NV now owns 387,058 shares of the industrial products company's stock valued at $40,571,000 after acquiring an additional 63,436 shares during the last quarter. Barclays PLC boosted its holdings in Franklin Electric by 237.3% during the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company's stock valued at $9,184,000 after acquiring an additional 61,640 shares during the period. JPMorgan Chase & Co. grew its position in Franklin Electric by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company's stock worth $16,174,000 after acquiring an additional 31,937 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Franklin Electric by 691.6% in the 3rd quarter. Quest Partners LLC now owns 29,970 shares of the industrial products company's stock worth $3,141,000 after purchasing an additional 26,184 shares during the period. 79.98% of the stock is currently owned by institutional investors.
Franklin Electric Trading Down 1.1 %
Shares of NASDAQ:FELE traded down $1.12 during midday trading on Thursday, hitting $101.23. 203,578 shares of the stock traded hands, compared to its average volume of 201,357. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.63 billion, a PE ratio of 26.29, a P/E/G ratio of 2.11 and a beta of 1.00. Franklin Electric Co., Inc. has a one year low of $91.67 and a one year high of $111.94. The business's 50 day moving average is $99.35 and its two-hundred day moving average is $101.85.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. The business had revenue of $485.75 million during the quarter, compared to analysts' expectations of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. As a group, research analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.
Franklin Electric Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.05%. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is 27.53%.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird dropped their price objective on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th.
Check Out Our Latest Research Report on FELE
About Franklin Electric
(
Free Report)
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.
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