Longboard Asset Management LP Makes New Investment in Federal Signal Corporation $FSS

Key Points

• Longboard Asset Management LP has acquired 2,127 shares of Federal Signal Corporation during Q2, valued at approximately $226,000.
• Federal Signal reported an earnings per share of $1.17 for the last quarter, surpassing analysts' expectations of $1.06 and showing a 15.1% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.14 per share, which contributes to an annual yield of 0.4%.

Longboard Asset Management LP acquired a new position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,127 shares of the conglomerate's stock, valued at approximately $226,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in Federal Signal during the 1st quarter worth $876,000. PNC Financial Services Group Inc. increased its holdings in Federal Signal by 29.1% in the first quarter. PNC Financial Services Group Inc. now owns 10,069 shares of the conglomerate's stock valued at $741,000 after buying an additional 2,267 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Federal Signal by 21.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,641 shares of the conglomerate's stock valued at $1,150,000 after buying an additional 2,724 shares during the last quarter. Bessemer Group Inc. increased its holdings in Federal Signal by 78.4% in the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after buying an additional 185 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Federal Signal by 66.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the conglomerate's stock valued at $814,000 after buying an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Stock Performance

FSS stock traded down $2.42 during mid-day trading on Friday, reaching $125.25. 2,059,009 shares of the stock traded hands, compared to its average volume of 295,856. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $130.30. The firm has a market capitalization of $7.61 billion, a PE ratio of 34.89, a P/E/G ratio of 2.23 and a beta of 1.32. The business has a 50-day moving average of $121.31 and a two-hundred day moving average of $100.05. 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 (NYSE:FSS - Get Free Report) last issued its quarterly 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. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The business had revenue of $564.60 million for the quarter, compared to the consensus estimate of $537.24 million. During the same quarter in the prior year, the company earned $0.95 EPS. The firm's quarterly revenue was up 15.1% on a year-over-year basis. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. As a group, equities analysts predict that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. CJS Securities reissued a "market perform" rating and issued a $125.00 price objective on shares of Federal Signal in a report on Thursday, July 31st. Raymond James Financial upped their target price on Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. DA Davidson boosted their price objective on Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Federal Signal currently has a consensus rating of "Hold" and an average price target of $123.00.

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.