Federal Signal (NYSE:FSS) Sets New 52-Week High - Here's What Happened

Federal Signal Corporation (NYSE:FSS - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $103.13 and last traded at $102.97, with a volume of 46806 shares trading hands. The stock had previously closed at $101.45.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. DA Davidson boosted their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Wall Street Zen cut Federal Signal from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. Raymond James Financial dropped their price objective on Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Monday, May 12th.

Federal Signal Stock Down 1.1%

The firm's fifty day simple moving average is $90.06 and its 200-day simple moving average is $89.26. The company has a market cap of $6.16 billion, a PE ratio of 29.55, a P/E/G ratio of 1.89 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22.

Federal Signal (NYSE:FSS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. The firm had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. Federal Signal's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, equities research analysts expect that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Friday, May 16th. Federal Signal's payout ratio is currently 16.37%.

Federal Signal declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Federal Signal

Hedge funds have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Federal Signal during the first quarter valued at approximately $29,000. Bessemer Group Inc. lifted its stake in shares of Federal Signal by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock worth $31,000 after purchasing an additional 185 shares during the period. Harbor Investment Advisory LLC boosted its holdings in shares of Federal Signal by 201.8% during the first quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock worth $48,000 after purchasing an additional 440 shares during the last quarter. Signaturefd LLC grew its position in shares of Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 165 shares during the period. Finally, CoreCap Advisors LLC grew its position in shares of Federal Signal by 19.9% in the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after purchasing an additional 145 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

About Federal Signal

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.