Driehaus Capital Management LLC Decreases Position in Federal Signal Corporation $FSS

Key Points

• Driehaus Capital Management LLC has reduced its stake in Federal Signal Corporation by 27.9%, now holding 429,447 shares worth approximately $31.59 million.
• Federal Signal reported $1.17 EPS for the last quarter, exceeding the analysts' estimates and marking a 15.1% increase in revenue year-over-year.
• A quarterly dividend of $0.14 per share was recently paid, reflecting a 0.5% dividend yield with a payout ratio of 15.60%.

Driehaus Capital Management LLC decreased its stake in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 27.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 429,447 shares of the conglomerate's stock after selling 166,533 shares during the period. Driehaus Capital Management LLC owned 0.70% of Federal Signal worth $31,586,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Federal Signal during the first quarter worth $29,000. Bessemer Group Inc. increased its position in Federal Signal by 78.4% during the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock worth $31,000 after buying an additional 185 shares in the last quarter. Harbor Investment Advisory LLC increased its position in 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 buying an additional 440 shares in the last quarter. CoreCap Advisors LLC increased its position in Federal Signal by 19.9% during the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock worth $81,000 after buying an additional 145 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in Federal Signal by 16.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock worth $82,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Federal Signal Trading Up 2.4%

FSS stock traded up $2.89 during trading on Thursday, reaching $124.94. 224,394 shares of the stock traded hands, compared to its average volume of 437,973. The business's 50 day moving average price is $117.94 and its 200-day moving average price is $97.10. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $130.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.60 and a quick ratio of 1.25. The firm has a market capitalization of $7.60 billion, a PE ratio of 34.80, a P/E/G ratio of 2.17 and a beta of 1.32.

Federal Signal (NYSE:FSS - Get Free Report) last posted 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. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%.The firm had revenue of $564.60 million during the quarter, compared to the consensus estimate of $537.24 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. As a group, sell-side analysts forecast that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

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

Analyst Upgrades and Downgrades

FSS has been the subject of several recent research reports. Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a research report on Friday, July 11th. DA Davidson lifted their price objective 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 lifted their price objective on Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, CJS Securities reaffirmed a "market perform" rating and issued a $125.00 price objective on shares of Federal Signal in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.