Franklin Electric Co., Inc. $FELE Shares Bought by Impax Asset Management Group plc

Impax Asset Management Group plc lifted its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 47.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246,729 shares of the industrial products company’s stock after purchasing an additional 403,115 shares during the period. Impax Asset Management Group plc owned about 2.80% of Franklin Electric worth $111,881,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in Franklin Electric by 8.9% in the 1st quarter. Xponance Inc. now owns 3,534 shares of the industrial products company’s stock worth $332,000 after buying an additional 290 shares in the last quarter. CWM LLC grew its stake in Franklin Electric by 60.7% during the 1st quarter. CWM LLC now owns 1,175 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 444 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Franklin Electric by 8.8% during the 1st quarter. Victory Capital Management Inc. now owns 15,464 shares of the industrial products company’s stock worth $1,452,000 after purchasing an additional 1,245 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Franklin Electric by 2.7% during the 1st quarter. Allianz Asset Management GmbH now owns 833,985 shares of the industrial products company’s stock valued at $78,295,000 after buying an additional 22,303 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Franklin Electric during the first quarter worth approximately $843,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Up 0.3%

NASDAQ:FELE opened at $95.21 on Thursday. The company has a current ratio of 2.54, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $95.48 and a 200-day moving average of $92.42. The firm has a market capitalization of $4.24 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.91 and a beta of 1.09. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.01. The business had revenue of $581.71 million during the quarter, compared to analyst estimates of $563.18 million. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 6th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Franklin Electric’s dividend payout ratio (DPR) is 34.53%.

Analysts Set New Price Targets

FELE has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c)” rating on shares of Franklin Electric in a research note on Thursday, November 6th. Finally, Robert W. Baird set a $112.00 price target on Franklin Electric in a report on Wednesday, October 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.00.

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.