Millennium Management LLC Grows Stake 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 Federal Signal Corporation (NYSE:FSS - Free Report) by 63.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Federal Signal by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,822 shares of the conglomerate's stock valued at $2,635,000 after purchasing an additional 1,594 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Federal Signal by 10.9% in the 1st quarter. AQR Capital Management LLC now owns 35,702 shares of the conglomerate's stock valued at $2,626,000 after purchasing an additional 3,520 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of Federal Signal by 19.7% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 15,820 shares of the conglomerate's stock valued at $1,164,000 after purchasing an additional 2,600 shares during the last quarter. Perbak Capital Partners LLP acquired a new position in shares of Federal Signal in the 1st quarter valued at $333,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Federal Signal by 113.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 138,484 shares of the conglomerate's stock worth $10,185,000 after acquiring an additional 73,577 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

FSS has been the topic of several research reports. Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Raymond James Financial increased their target price on Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. CJS Securities reissued a "market perform" rating and set a $125.00 target price on shares of Federal Signal in a research note on Thursday, July 31st. DA Davidson increased their target price on Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Federal Signal currently has an average rating of "Hold" and a consensus price target of $123.00.

Federal Signal Stock Down 1.8%

NYSE FSS traded down $2.31 during trading hours on Friday, hitting $125.54. 257,711 shares of the company were exchanged, compared to its average volume of 322,444. The company has a 50 day moving average of $119.85 and a two-hundred day moving average of $98.36. The company has a quick ratio of 1.25, a current ratio of 2.60 and a debt-to-equity ratio of 0.20. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $130.30. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.27 and a beta of 1.32.

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 the consensus estimate 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 the consensus estimate of $537.24 million. During the same quarter in the prior year, the business earned $0.95 EPS. Federal Signal's revenue was up 15.1% on a year-over-year basis. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. Equities research analysts anticipate that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Friday, August 15th were issued a $0.14 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.4%. Federal Signal's dividend payout ratio is presently 15.60%.

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.