Natixis Advisors LLC Purchases 54,628 Shares of Federal Signal Corporation (NYSE:FSS)

Key Points

• Natixis Advisors LLC significantly increased its holdings in Federal Signal Corporation by 117.9% during the first quarter, purchasing an additional 54,628 shares, bringing their total ownership to 100,968 shares valued at approximately $7.43 million.
• Federal Signal reported a 15.1% year-over-year revenue increase, reaching $564.6 million for the quarter, with earnings per share (EPS) of $1.17, surpassing analysts' estimates.
• The company announced a quarterly dividend of $0.14 per share, with a dividend yield of 0.5%, and has initiated a share repurchase program allowing for the buyback of $150 million worth of its shares.

Natixis Advisors LLC increased its position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 117.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,968 shares of the conglomerate's stock after buying an additional 54,628 shares during the period. Natixis Advisors LLC owned 0.17% of Federal Signal worth $7,426,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Vestcor Inc bought a new stake in shares of Federal Signal during the 1st quarter worth $319,000. XTX Topco Ltd bought a new stake in shares of Federal Signal during the 1st quarter worth $1,925,000. GSA Capital Partners LLP bought a new stake in shares of Federal Signal during the 1st quarter worth $876,000. Federated Hermes Inc. boosted its holdings in shares of Federal Signal by 14.3% during the 1st quarter. Federated Hermes Inc. now owns 45,390 shares of the conglomerate's stock worth $3,338,000 after buying an additional 5,696 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Federal Signal by 12.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the conglomerate's stock worth $1,308,000 after buying an additional 1,964 shares during the period. 92.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday. DA Davidson upped their target price on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. CJS Securities reiterated a "market perform" rating and set a $125.00 target price on shares of Federal Signal in a research note on Thursday, July 31st. KeyCorp reiterated a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. Finally, Raymond James Financial upped their target price on shares of Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $123.00.

Federal Signal Price Performance

NYSE:FSS opened at $124.43 on Tuesday. The company has a 50-day moving average of $105.18 and a 200-day moving average of $92.41. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.18 and a beta of 1.30. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $128.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60.

Federal Signal (NYSE:FSS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.11. The company had revenue of $564.60 million during the quarter, compared to the consensus estimate of $537.24 million. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. As a group, equities research analysts anticipate that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 15th. Federal Signal's dividend payout ratio (DPR) is presently 15.60%.

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

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