DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Federal Signal Co. (NYSE:FSS - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,000 shares of the conglomerate's stock after buying an additional 7,000 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Federal Signal were worth $2,033,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in Federal Signal by 0.6% in the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock valued at $8,283,000 after purchasing an additional 514 shares in the last quarter. Barclays PLC raised its position in shares of Federal Signal by 338.7% during the 3rd quarter. Barclays PLC now owns 145,188 shares of the conglomerate's stock worth $13,569,000 after purchasing an additional 112,092 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Federal Signal by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate's stock worth $72,112,000 after purchasing an additional 11,466 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Federal Signal by 84.1% in the 4th quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate's stock valued at $20,247,000 after acquiring an additional 100,135 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Federal Signal in the 4th quarter valued at $36,636,000. Hedge funds and other institutional investors own 92.73% of the company's stock.
Analyst Upgrades and Downgrades
FSS has been the subject of a number of research analyst reports. KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a report on Monday. StockNews.com cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. DA Davidson upped their target price on shares of Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Raymond James cut their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.00.
View Our Latest Analysis on FSS
Insiders Place Their Bets
In other news, CEO Jennifer L. Sherman acquired 1,250 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the transaction, the chief executive officer now owns 559,183 shares in the company, valued at approximately $46,031,944.56. This trade represents a 0.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.30% of the company's stock.
Federal Signal Stock Performance
Shares of NYSE:FSS traded down $0.67 during trading hours on Wednesday, hitting $93.73. The stock had a trading volume of 352,710 shares, compared to its average volume of 436,101. The stock's fifty day simple moving average is $78.30 and its 200 day simple moving average is $88.13. Federal Signal Co. has a 1-year low of $66.47 and a 1-year high of $102.18. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 1.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83.
Federal Signal (NYSE:FSS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The business had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The business's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.
Federal Signal Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.60%. Federal Signal's dividend payout ratio (DPR) is 16.37%.
Federal Signal announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.
Federal Signal Company Profile
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Free Report)
Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.
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