Franklin Electric Co., Inc. $FELE Stock Holdings Increased by Impax Asset Management Group plc

Impax Asset Management Group plc grew its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 47.8% in the second quarter, HoldingsChannel reports. The fund owned 1,246,729 shares of the industrial products company’s stock after buying an additional 403,115 shares during the period. Impax Asset Management Group plc’s holdings in Franklin Electric were worth $111,881,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Select Equity Group L.P. acquired a new stake in Franklin Electric in the first quarter worth about $8,696,000. Marks Group Wealth Management Inc raised its position in shares of Franklin Electric by 13.0% during the 2nd quarter. Marks Group Wealth Management Inc now owns 92,837 shares of the industrial products company’s stock worth $8,331,000 after buying an additional 10,692 shares in the last quarter. First Merchants Corp lifted its stake in shares of Franklin Electric by 1.2% in the 2nd quarter. First Merchants Corp now owns 251,290 shares of the industrial products company’s stock worth $22,551,000 after acquiring an additional 2,881 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Franklin Electric by 8.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,870 shares of the industrial products company’s stock worth $3,274,000 after acquiring an additional 2,675 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Franklin Electric during the first quarter valued at approximately $10,005,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird set a $112.00 target price on Franklin Electric in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Franklin Electric in a research note on Thursday, November 6th. Finally, Wall Street Zen cut Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric presently has a consensus rating of “Hold” and an average price target of $112.00.

Franklin Electric Price Performance

NASDAQ FELE opened at $95.21 on Thursday. The stock’s 50-day moving average price is $95.48 and its two-hundred day moving average price is $92.42. The company has a market cap of $4.24 billion, a PE ratio of 31.01, a PEG ratio of 1.91 and a beta of 1.09. The company has a current ratio of 2.54, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results 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. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. The business had revenue of $581.71 million for the quarter, compared to analyst estimates of $563.18 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, November 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.1%. Franklin Electric’s payout ratio is currently 34.53%.

Franklin Electric 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.