Federated Hermes Inc. Grows Position in Federal Signal Corporation (NYSE:FSS)

Federated Hermes Inc. lifted its position in Federal Signal Corporation (NYSE:FSS - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,390 shares of the conglomerate's stock after buying an additional 5,696 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of Federal Signal worth $3,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its holdings in Federal Signal by 57.4% during the 4th quarter. LPL Financial LLC now owns 21,098 shares of the conglomerate's stock worth $1,949,000 after acquiring an additional 7,696 shares during the period. JPMorgan Chase & Co. grew its position in shares of Federal Signal by 79.9% during the 4th quarter. JPMorgan Chase & Co. now owns 304,711 shares of the conglomerate's stock valued at $28,152,000 after purchasing an additional 135,359 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Federal Signal by 11.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,070 shares of the conglomerate's stock valued at $838,000 after purchasing an additional 935 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Federal Signal by 110.3% in the fourth quarter. Schroder Investment Management Group now owns 16,849 shares of the conglomerate's stock worth $1,553,000 after purchasing an additional 8,837 shares during the period. Finally, California Public Employees Retirement System boosted its stake in Federal Signal by 0.6% during the fourth quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock valued at $8,283,000 after buying an additional 514 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSS. DA Davidson boosted their target price on Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial boosted their price objective 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 raised shares of Federal Signal from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. CJS Securities reissued a "market perform" rating and issued a $125.00 price target on shares of Federal Signal in a research note on Thursday, July 31st. Finally, KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Federal Signal currently has an average rating of "Hold" and a consensus target price of $123.00.

Federal Signal Price Performance

Shares of Federal Signal stock traded down $0.15 during trading on Friday, hitting $126.00. 99,457 shares of the stock traded hands, compared to its average volume of 586,970. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.23 and a beta of 1.30. 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 $128.50. The firm's fifty day moving average is $107.69 and its 200-day moving average is $93.26.

Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $564.60 million during the quarter, compared to analyst estimates of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%. Federal Signal's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Research analysts expect that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Friday, August 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.4%. Federal Signal's payout ratio is currently 15.60%.

Federal Signal declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

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.