Envestnet Asset Management Inc. Grows Stake in Federal Signal Corporation (NYSE:FSS)

Envestnet Asset Management Inc. increased its holdings in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,919 shares of the conglomerate's stock after purchasing an additional 5,017 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.31% of Federal Signal worth $13,969,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in shares of Federal Signal during the 1st quarter worth about $29,000. Bessemer Group Inc. boosted its stake in shares of Federal Signal by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock worth $31,000 after acquiring an additional 185 shares during the period. Harbor Investment Advisory LLC increased its holdings in shares of Federal Signal by 201.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock worth $48,000 after acquiring an additional 440 shares during the last quarter. Signaturefd LLC raised its stake in Federal Signal by 37.4% in the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after acquiring an additional 165 shares during the period. Finally, CoreCap Advisors LLC raised its stake in Federal Signal by 19.9% in the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after acquiring an additional 145 shares during the period. Institutional investors own 92.73% of the company's stock.

Federal Signal Trading Up 0.9%

Shares of Federal Signal stock traded up $0.96 on Friday, reaching $108.14. 1,023,342 shares of the company's stock were exchanged, compared to its average volume of 471,012. The firm's 50-day moving average is $101.45 and its two-hundred day moving average is $91.16. The company has a market capitalization of $6.59 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.39. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $114.40.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The firm had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same period in the prior year, the business posted $0.64 earnings per share. The company's quarterly revenue was up 9.2% compared to the same quarter last year. Sell-side analysts predict that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 22nd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows 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 stock is undervalued.

Federal Signal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.52%. Federal Signal's payout ratio is currently 16.37%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. Raymond James Financial set a $120.00 price objective on shares of Federal Signal and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, DA Davidson increased their price target on Federal Signal from $84.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th.

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.