Advisors Asset Management Inc. Decreases Stock Position in Federal Signal Corporation $FSS

Key Points

• Advisors Asset Management Inc. reduced its ownership in Federal Signal Corporation by 32.1%, selling 13,492 shares and holding 28,566 shares valued at approximately $2.1 million.
• Several institutional investors have increased their stakes in Federal Signal, with notable purchases including Bessemer Group Inc.'s 78.4% increase, adding shares valued at $31,000.
• Federal Signal's earnings report revealed a quarterly revenue of $564.6 million, exceeding estimates and reflecting a 15.1% year-over-year growth.

Advisors Asset Management Inc. cut its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,566 shares of the conglomerate's stock after selling 13,492 shares during the period. Advisors Asset Management Inc.'s holdings in Federal Signal were worth $2,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Federal Signal in the first quarter valued at $876,000. PNC Financial Services Group Inc. lifted its holdings in shares of Federal Signal by 29.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,069 shares of the conglomerate's stock valued at $741,000 after purchasing an additional 2,267 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Federal Signal by 21.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,641 shares of the conglomerate's stock valued at $1,150,000 after purchasing an additional 2,724 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Federal Signal by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Federal Signal by 66.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the conglomerate's stock valued at $814,000 after purchasing an additional 4,405 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FSS. KeyCorp restated a "sector weight" rating on shares of Federal Signal in a research report on Friday, July 11th. DA Davidson boosted their price target on Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial boosted their price target on Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. CJS Securities restated a "market perform" rating and issued a $125.00 price target on shares of Federal Signal in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Federal Signal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Federal Signal has an average rating of "Hold" and an average price target of $123.00.

Federal Signal Price Performance

Shares of NYSE:FSS opened at $124.80 on Monday. The business's fifty day moving average price is $118.35 and its two-hundred day moving average price is $97.27. The stock has a market cap of $7.59 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60. Federal Signal Corporation has a one year low of $66.47 and a one year high of $130.30.

Federal Signal (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.11. The firm had revenue of $564.60 million for the quarter, compared to analysts' expectations of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%.Federal Signal's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. On average, analysts forecast that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Friday, August 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 15th. Federal Signal's dividend payout ratio is 15.60%.

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.

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