Federal Signal Co. (NYSE:FSS) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its position in Federal Signal Co. (NYSE:FSS - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 308,708 shares of the conglomerate's stock after buying an additional 36,956 shares during the quarter. Millennium Management LLC owned about 0.51% of Federal Signal worth $28,522,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Federal Signal by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,228 shares of the conglomerate's stock valued at $3,162,000 after buying an additional 1,328 shares during the period. Janus Henderson Group PLC raised its position in shares of Federal Signal by 154.6% during the fourth quarter. Janus Henderson Group PLC now owns 127,618 shares of the conglomerate's stock worth $11,798,000 after purchasing an additional 77,489 shares during the period. Graham Capital Management L.P. raised its position in shares of Federal Signal by 119.2% during the fourth quarter. Graham Capital Management L.P. now owns 22,957 shares of the conglomerate's stock worth $2,121,000 after purchasing an additional 12,483 shares during the period. Fred Alger Management LLC raised its position in shares of Federal Signal by 9.9% during the fourth quarter. Fred Alger Management LLC now owns 371,739 shares of the conglomerate's stock worth $34,345,000 after purchasing an additional 33,556 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Federal Signal by 138.1% during the fourth quarter. Deutsche Bank AG now owns 86,100 shares of the conglomerate's stock worth $7,955,000 after purchasing an additional 49,943 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Stock Up 0.6%

Shares of Federal Signal stock opened at $95.90 on Tuesday. The stock has a 50-day moving average price of $79.47 and a 200 day moving average price of $88.48. The company has a market cap of $5.85 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.85 and a beta of 1.23. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. Federal Signal Co. has a 1 year low of $66.47 and a 1 year high of $102.18.

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, topping the consensus estimate of $0.73 by $0.03. The firm had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. As a group, analysts expect that Federal Signal Co. will post 3.34 EPS for the current fiscal year.

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

Federal Signal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, May 16th. Federal Signal's dividend payout ratio is currently 16.37%.

Insiders Place Their Bets

In other news, CEO Jennifer L. Sherman bought 1,250 shares of the company's stock in a transaction on Friday, February 28th. The shares were bought at an average cost 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 trade represents a 0.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.30% of the company's stock.

Analyst Ratings Changes

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

About Federal Signal

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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