Oppenheimer Asset Management Inc. Increases Stock Holdings in Federal Signal Corporation (NYSE:FSS)

Oppenheimer Asset Management Inc. boosted its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 21.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,641 shares of the conglomerate's stock after purchasing an additional 2,724 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Federal Signal were worth $1,150,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Federal Signal during the first quarter worth about $29,000. Harbor Investment Advisory LLC grew its stake in Federal Signal by 201.8% in the first quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock worth $48,000 after purchasing an additional 440 shares during the period. Signaturefd LLC increased its stake in shares of Federal Signal by 37.4% during the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 165 shares in the last quarter. CoreCap Advisors LLC grew its position in Federal Signal by 19.9% during the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after purchasing an additional 145 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Federal Signal by 15.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after purchasing an additional 181 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Federal Signal Stock Performance

NYSE FSS traded up $2.84 on Wednesday, reaching $108.95. 215,044 shares of the stock were exchanged, compared to its average volume of 455,511. The firm has a market capitalization of $6.64 billion, a PE ratio of 31.88, a PEG ratio of 1.98 and a beta of 1.27. Federal Signal Corporation has a one year low of $66.47 and a one year high of $109.09. The company's 50-day simple moving average is $94.22 and its two-hundred day simple moving average is $89.60. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. The firm had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. Federal Signal's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Analysts expect that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal's payout ratio is 16.37%.

Federal Signal declared that its board has approved a share buyback program on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. DA Davidson upped their price objective on Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 target price for the company in a research report on Monday, May 12th. Finally, Raymond James Financial increased their price target on shares of Federal Signal from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday.

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.