Allspring Global Investments Holdings LLC Purchases 23,859 Shares of Federal Signal Corporation $FSS

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Federal Signal Corporation by 18.2%, purchasing an additional 23,859 shares, bringing its total holdings to 154,932 shares valued at approximately $16.5 million.
• Several hedge funds have also raised their positions in Federal Signal, with institutional investors collectively owning 92.73% of the stock.
• Federal Signal's quarterly revenue increased by 15.1% year-over-year to $564.6 million, and it reported earnings per share of $1.17, exceeding analyst expectations.

Allspring Global Investments Holdings LLC lifted its position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 18.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,932 shares of the conglomerate's stock after purchasing an additional 23,859 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Federal Signal worth $16,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Van Berkom & Associates Inc. boosted its position in shares of Federal Signal by 2.0% during the first quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate's stock valued at $76,901,000 after purchasing an additional 20,771 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Federal Signal by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 718,214 shares of the conglomerate's stock valued at $52,826,000 after purchasing an additional 2,057 shares in the last quarter. Nuveen LLC bought a new stake in shares of Federal Signal during the first quarter valued at approximately $45,307,000. GW&K Investment Management LLC boosted its position in shares of Federal Signal by 0.7% during the first quarter. GW&K Investment Management LLC now owns 544,463 shares of the conglomerate's stock valued at $40,045,000 after purchasing an additional 3,734 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Federal Signal by 63.0% during the first quarter. Millennium Management LLC now owns 503,120 shares of the conglomerate's stock valued at $37,004,000 after purchasing an additional 194,412 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FSS shares. Weiss Ratings restated a "buy (b)" rating on shares of Federal Signal in a research report on Wednesday, October 8th. Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. DA Davidson boosted their target price on Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. CJS Securities reissued a "market perform" rating and issued a $125.00 target price on shares of Federal Signal in a report on Thursday, July 31st. Finally, Zacks Research downgraded Federal Signal from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $123.00.

Federal Signal Trading Up 0.7%

Federal Signal stock opened at $120.54 on Friday. The company has a current ratio of 2.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $123.41 and its two-hundred day simple moving average is $105.69. Federal Signal Corporation has a 12 month low of $66.47 and a 12 month high of $130.30. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 2.13 and a beta of 1.29.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (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 the consensus estimate of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%.The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. As a group, equities analysts predict that Federal Signal Corporation 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 was paid on Thursday, August 28th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 15th. Federal Signal's dividend payout ratio is presently 15.60%.

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.

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