Millennium Management LLC Raises Holdings in Federal Signal Corporation $FSS

Key Points

• Millennium Management LLC has significantly increased its stake in Federal Signal Corporation by 63%, owning approximately 503,120 shares worth around $37 million at the end of the first quarter.
• Federal Signal reported better-than-expected earnings for the quarter, with $1.17 EPS versus analysts' estimates of $1.06, and a revenue increase of 15.1% year-over-year.
• The company announced a quarterly dividend of $0.14 per share, with a 0.5% yield, reflecting a payout ratio of 15.60%.

Millennium Management LLC grew its holdings in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 63.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 503,120 shares of the conglomerate's stock after purchasing an additional 194,412 shares during the period. Millennium Management LLC owned approximately 0.83% of Federal Signal worth $37,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Van Berkom & Associates Inc. increased its position in Federal Signal by 2.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate's stock worth $76,901,000 after purchasing an additional 20,771 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Federal Signal by 0.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 718,214 shares of the conglomerate's stock worth $52,826,000 after acquiring an additional 2,057 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Federal Signal by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 649,593 shares of the conglomerate's stock worth $60,016,000 after acquiring an additional 3,242 shares during the period. Nuveen LLC acquired a new stake in shares of Federal Signal in the 1st quarter worth approximately $45,307,000. Finally, GW&K Investment Management LLC grew its holdings in shares of Federal Signal by 0.7% in the 1st quarter. GW&K Investment Management LLC now owns 544,463 shares of the conglomerate's stock worth $40,045,000 after acquiring an additional 3,734 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Trading Up 1.0%

Shares of Federal Signal stock traded up $1.21 during trading hours on Monday, reaching $126.81. 28,043 shares of the company's stock were exchanged, compared to its average volume of 558,919. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $130.30. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 2.23 and a beta of 1.32. The company has a fifty day moving average of $119.85 and a 200-day moving average of $98.60. The company has a current ratio of 2.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share for the quarter, topping 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 company had revenue of $564.60 million for the quarter, compared to analyst estimates of $537.24 million. During the same quarter in the prior year, the company posted $0.95 EPS. The business's revenue for the quarter 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. Sell-side analysts forecast that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on FSS. DA Davidson upped their price target on Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. CJS Securities restated a "market perform" rating and issued a $125.00 price target on shares of Federal Signal in a report on Thursday, July 31st. Raymond James Financial upped their price target on Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen upgraded Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, KeyCorp reiterated a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Federal Signal presently has a consensus rating of "Hold" and an average target price of $123.00.

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.