GAMMA Investing LLC boosted its position in Federal Signal Co. (NYSE:FSS - Free Report) by 8,794.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,159 shares of the conglomerate's stock after acquiring an additional 147,482 shares during the period. GAMMA Investing LLC owned 0.24% of Federal Signal worth $10,971,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in FSS. Capital World Investors bought a new stake in Federal Signal in the 4th quarter worth $79,810,000. Norges Bank bought a new stake in Federal Signal in the 4th quarter worth $78,192,000. Raymond James Financial Inc. bought a new stake in Federal Signal in the 4th quarter worth $36,636,000. First Trust Advisors LP grew its holdings in Federal Signal by 56.5% in the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock worth $82,609,000 after acquiring an additional 322,676 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Federal Signal by 12.4% in the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate's stock worth $203,184,000 after acquiring an additional 242,840 shares during the last quarter. Institutional investors own 92.73% of the company's stock.
Wall Street Analyst Weigh In
FSS has been the topic of a number of recent analyst reports. Raymond James cut their price target on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. KeyCorp raised 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. DA Davidson raised their target price on shares of Federal Signal from $82.00 to $84.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Wall Street Zen cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.
View Our Latest Report on FSS
Federal Signal Stock Performance
NYSE:FSS opened at $99.38 on Friday. The company has a 50-day moving average price of $84.54 and a 200-day moving average price of $89.04. Federal Signal Co. has a 12 month low of $66.47 and a 12 month high of $102.18. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.85 and a beta of 1.26.
Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The company had revenue of $463.80 million during the quarter, compared to analysts' expectations of $462.63 million. During the same period last year, the company posted $0.64 EPS. Federal Signal's revenue was up 9.2% on a year-over-year basis. Equities analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.
Federal Signal declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Federal Signal Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.56%. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.
Federal Signal Company Profile
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Free Report)
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.
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