Federal Signal Co. (NYSE:FSS) Stake Lifted by EDENTREE ASSET MANAGEMENT Ltd

EDENTREE ASSET MANAGEMENT Ltd grew its stake in Federal Signal Co. (NYSE:FSS - Free Report) by 41.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,055 shares of the conglomerate's stock after purchasing an additional 5,300 shares during the period. EDENTREE ASSET MANAGEMENT Ltd's holdings in Federal Signal were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Capital World Investors purchased a new position in Federal Signal in the fourth quarter worth approximately $79,810,000. Norges Bank purchased a new position in Federal Signal in the fourth quarter valued at $78,192,000. Raymond James Financial Inc. purchased a new position in shares of Federal Signal during the fourth quarter worth about $36,636,000. First Trust Advisors LP grew its holdings in shares of Federal Signal by 56.5% during the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock worth $82,609,000 after purchasing an additional 322,676 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Federal Signal by 12.4% during the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate's stock worth $203,184,000 after purchasing an additional 242,840 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Federal Signal news, CEO Jennifer L. Sherman acquired 1,250 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $82.32 per share, with a total value of $102,900.00. Following the transaction, the chief executive officer now directly owns 559,183 shares in the company, valued at approximately $46,031,944.56. This represents a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.30% of the company's stock.

Federal Signal Trading Up 3.4%

FSS stock traded up $3.11 during midday trading on Tuesday, hitting $95.16. The stock had a trading volume of 151,535 shares, compared to its average volume of 436,829. The firm has a market cap of $5.80 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. Federal Signal Co. has a 12-month low of $66.47 and a 12-month high of $102.18. The company's 50-day moving average price is $81.05 and its 200 day moving average price is $88.69.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The company had revenue of $463.80 million during the quarter, compared to analysts' expectations of $462.63 million. During the same period in the previous year, the company earned $0.64 EPS. The business's quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

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

Federal Signal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.

Analyst Ratings Changes

A number of research firms recently issued reports on FSS. KeyCorp raised Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target on the stock in a report on Monday, May 12th. DA Davidson lifted their price target on shares of Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Finally, Raymond James lowered their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.00.

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.