Federated Hermes Inc. Buys 5,696 Shares of Federal Signal Corporation (NYSE:FSS)

Federated Hermes Inc. boosted its holdings in Federal Signal Corporation (NYSE:FSS - Free Report) by 14.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,390 shares of the conglomerate's stock after purchasing 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 large investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Federal Signal by 12.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the conglomerate's stock valued at $1,308,000 after acquiring an additional 1,964 shares during the period. HB Wealth Management LLC lifted its stake in Federal Signal by 17.9% in the 1st quarter. HB Wealth Management LLC now owns 5,141 shares of the conglomerate's stock worth $378,000 after acquiring an additional 782 shares in the last quarter. Van Berkom & Associates Inc. lifted its position in Federal Signal by 2.0% in the 1st quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate's stock worth $76,901,000 after buying an additional 20,771 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Federal Signal in the first quarter valued at about $558,000. Finally, Homestead Advisers Corp increased its stake in shares of Federal Signal by 4.6% during the 1st quarter. Homestead Advisers Corp now owns 96,294 shares of the conglomerate's stock worth $7,082,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. DA Davidson upped their price target on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Raymond James Financial increased their target price on shares of Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Federal Signal from a "hold" rating to a "buy" rating in a research report on Saturday. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. Finally, CJS Securities cut Federal Signal from a "strong-buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research note on Thursday, July 31st. 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $123.00.

Federal Signal Price Performance

Shares of Federal Signal stock traded down $0.34 during trading on Wednesday, reaching $125.28. 792,161 shares of the company's stock were exchanged, compared to its average volume of 588,921. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60. The company has a market cap of $7.62 billion, a P/E ratio of 34.90, a PEG ratio of 2.21 and a beta of 1.30. Federal Signal Corporation has a 1-year low of $66.47 and a 1-year high of $128.50. The firm's 50-day moving average price is $106.43 and its 200 day moving average price is $92.83.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (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 company had revenue of $564.60 million during the quarter, compared to the consensus estimate of $537.24 million. During the same period last year, the company earned $0.95 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Dividend Announcement

The business also recently announced 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. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 15th. Federal Signal's payout ratio is presently 15.60%.

Federal Signal declared that its board has approved a stock buyback program on Tuesday, April 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication 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.