Millennium Management LLC Grows Position in Federal Signal Co. (NYSE:FSS)

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

Several other hedge funds also recently bought and sold shares of the company. Capital World Investors acquired a new stake in shares of Federal Signal during the fourth quarter valued at about $79,810,000. Norges Bank acquired a new position in shares of Federal Signal during the fourth quarter worth approximately $78,192,000. Raymond James Financial Inc. purchased a new stake in Federal Signal during the 4th quarter worth about $36,636,000. First Trust Advisors LP boosted its holdings in Federal Signal by 56.5% in the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock valued at $82,609,000 after acquiring an additional 322,676 shares in the last quarter. Finally, Invesco Ltd. raised its position in Federal Signal by 12.4% during the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate's stock valued at $203,184,000 after acquiring an additional 242,840 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

FSS has been the subject of several research analyst reports. Raymond James dropped their price objective on Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. DA Davidson raised their price target on shares of Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, May 5th. KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen lowered shares of Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Federal Signal currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Federal Signal Stock Down 1.1%

Shares of FSS traded down $0.98 during midday trading on Friday, hitting $92.12. The stock had a trading volume of 368,246 shares, compared to its average volume of 437,931. Federal Signal Co. has a twelve month low of $66.47 and a twelve month high of $102.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. The company has a 50 day simple moving average of $80.76 and a two-hundred day simple moving average of $88.67.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $463.80 million for the quarter, compared to analysts' expectations of $462.63 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. Federal Signal's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. On average, analysts anticipate that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.61%. Federal Signal's payout ratio is 16.37%.

Federal Signal announced that its board has initiated a share buyback plan on Tuesday, April 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Jennifer L. Sherman bought 1,250 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $82.32 per share, with a total value of $102,900.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.30% of the company's stock.

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.