The Manufacturers Life Insurance Company Increases Position in Federal Signal Corporation $FSS

Key Points

• The Manufacturers Life Insurance Company significantly increased its stake in Federal Signal Corporation by 1,266.0% in the first quarter, now owning approximately 0.76% of shares valued at $34.17 million.
• Federal Signal's stock price recently opened at $122.82, with financial performance showing a 15.1% increase in revenue compared to the same quarter last year, reporting earnings per share of $1.17.
• The company declared a quarterly dividend of $0.14, representing a 0.5% annual yield, with a current dividend payout ratio of 15.60%.

The Manufacturers Life Insurance Company raised its position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 1,266.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 464,593 shares of the conglomerate's stock after purchasing an additional 430,583 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.76% of Federal Signal worth $34,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSS. Pembroke Management LTD raised its stake in Federal Signal by 6.3% during the first quarter. Pembroke Management LTD now owns 297,757 shares of the conglomerate's stock worth $21,900,000 after buying an additional 17,741 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in Federal Signal by 76.7% during the 1st quarter. Landscape Capital Management L.L.C. now owns 7,365 shares of the conglomerate's stock worth $542,000 after acquiring an additional 3,196 shares during the period. Gabelli Funds LLC raised its position in shares of Federal Signal by 2.1% in the 1st quarter. Gabelli Funds LLC now owns 187,100 shares of the conglomerate's stock worth $13,761,000 after acquiring an additional 3,900 shares in the last quarter. Jane Street Group LLC raised its position in shares of Federal Signal by 1,020.5% in the 1st quarter. Jane Street Group LLC now owns 210,438 shares of the conglomerate's stock worth $15,478,000 after acquiring an additional 191,658 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of Federal Signal by 5.1% in the 1st quarter. Comerica Bank now owns 129,142 shares of the conglomerate's stock valued at $9,498,000 after purchasing an additional 6,272 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Raymond James Financial raised 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. KeyCorp restated a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. CJS Securities reiterated a "market perform" rating and issued a $125.00 price objective on shares of Federal Signal in a research note on Thursday, July 31st. DA Davidson increased their target price on shares of Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen raised shares of Federal Signal from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $123.00.

Federal Signal Stock Down 0.1%

Shares of NYSE:FSS traded down $0.17 during midday trading on Friday, hitting $124.80. 230,267 shares of the company's stock were exchanged, compared to its average volume of 404,088. Federal Signal Corporation has a 12 month low of $66.47 and a 12 month high of $130.30. The company has a market cap of $7.59 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.60 and a quick ratio of 1.25. The stock has a 50 day moving average price of $118.35 and a 200-day moving average price of $97.27.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $1.17 EPS 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 firm had revenue of $564.60 million during the quarter, compared to analyst estimates of $537.24 million. During the same period in the previous year, the company posted $0.95 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. On average, sell-side analysts anticipate that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Announces Dividend

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

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.