Allianz Asset Management GmbH Has $419,000 Holdings in Federal Signal Corporation (NYSE:FSS)

Key Points

• Allianz Asset Management GmbH increased its holdings in Federal Signal Corporation by 119.2%, now owning a total of 5,700 shares valued at $419,000.
• Federal Signal reported a quarterly EPS of $1.17, surpassing analysts’ expectations of $1.06, with a year-over-year revenue increase of 15.1% to $564.60 million.
• The company has authorized a $150 million share buyback plan, indicating leadership confidence in the undervaluation of its shares.

Allianz Asset Management GmbH grew its stake in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 119.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,700 shares of the conglomerate's stock after acquiring an additional 3,100 shares during the period. Allianz Asset Management GmbH's holdings in Federal Signal were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. LPL Financial LLC grew its stake in shares of Federal Signal by 57.4% during the 4th quarter. LPL Financial LLC now owns 21,098 shares of the conglomerate's stock valued at $1,949,000 after buying an additional 7,696 shares during the period. JPMorgan Chase & Co. boosted its position in Federal Signal by 79.9% in the 4th quarter. JPMorgan Chase & Co. now owns 304,711 shares of the conglomerate's stock valued at $28,152,000 after buying an additional 135,359 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Federal Signal by 11.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 9,070 shares of the conglomerate's stock valued at $838,000 after buying an additional 935 shares during the last quarter. Schroder Investment Management Group boosted its position in Federal Signal by 110.3% in the 4th quarter. Schroder Investment Management Group now owns 16,849 shares of the conglomerate's stock valued at $1,553,000 after buying an additional 8,837 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position 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 buying an additional 514 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Federal Signal Price Performance

Federal Signal stock traded down $0.29 during mid-day trading on Wednesday, hitting $125.33. The company's stock had a trading volume of 143,588 shares, compared to its average volume of 584,509. The company has a quick ratio of 1.25, a current ratio of 2.60 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $7.62 billion, a P/E ratio of 34.96, a P/E/G ratio of 2.21 and a beta of 1.30. Federal Signal Corporation has a twelve month low of $66.47 and a twelve month high of $128.50. The stock's fifty day moving average price is $106.43 and its two-hundred day moving average price is $92.83.

Federal Signal (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The company had revenue of $564.60 million for the quarter, compared to the consensus estimate of $537.24 million. During the same period in the previous year, the business earned $0.95 EPS. The company's revenue was up 15.1% on a year-over-year basis. Research analysts forecast that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal declared that its board has initiated a stock repurchase program on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Friday, August 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, August 15th. Federal Signal's dividend payout ratio (DPR) is 15.60%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSS. Raymond James Financial upped their target price on shares of Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Federal Signal from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp restated a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. DA Davidson raised their price objective on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, CJS Securities reiterated a "market perform" rating and set a $125.00 price objective on shares of Federal Signal in a research note on Thursday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Federal Signal has a consensus rating of "Hold" and an average target price of $123.00.

Federal Signal Profile

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.