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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in Federal Signal in the first quarter worth approximately $29,000. Bessemer Group Inc. increased its holdings in shares of Federal Signal by 78.4% during the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Harbor Investment Advisory LLC increased 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 valued at $48,000 after acquiring an additional 440 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of Federal Signal by 19.9% during the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after acquiring an additional 145 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Federal Signal by 16.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after acquiring an additional 162 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Federal Signal Stock Up 1.5%

Federal Signal stock traded up $1.86 during trading on Monday, hitting $124.43. 473,582 shares of the company were exchanged, compared to its average volume of 585,425. The business's 50 day moving average is $105.18 and its 200 day moving average is $92.41. The company has a current ratio of 2.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $128.50. The company has a market capitalization of $7.56 billion, a P/E ratio of 34.66, a PEG ratio of 2.18 and a beta of 1.30.

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

Federal Signal declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Friday, August 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.5%. Federal Signal's payout ratio is currently 15.60%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FSS. DA Davidson boosted their price objective on Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp restated a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. Raymond James Financial upped their price target on Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday. CJS Securities reiterated a "market perform" rating and set a $125.00 price target on shares of Federal Signal in a report on Thursday. Finally, Wall Street Zen upgraded Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Federal Signal currently has a consensus rating of "Hold" and a consensus price target of $123.00.

Federal Signal Company 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.