Oppenheimer Asset Management Inc. Acquires Shares of 41,942 Federal Signal Corporation $FSS

Key Points

• Oppenheimer Asset Management acquired 41,942 Federal Signal shares worth approximately $5.4 million, while institutional investors collectively owned 92.73% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with a $137.33 target price, although Zacks Research and Wall Street Zen recently downgraded the stock to “Hold.”
• Federal Signal exceeded quarterly earnings expectations, reporting $1.42 in EPS and $670.2 million in revenue, up 18.7% year over year; it also declared a quarterly dividend of $0.15 per share.

Oppenheimer Asset Management Inc. bought a new position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 41,942 shares of the conglomerate's stock, valued at approximately $5,389,000. Oppenheimer Asset Management Inc. owned 0.07% of Federal Signal at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FSS. Vanguard Group Inc. grew its holdings in Federal Signal by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 6,840,396 shares of the conglomerate's stock worth $742,799,000 after acquiring an additional 138,855 shares during the period. Capital World Investors lifted its holdings in Federal Signal by 4.4% in the fourth quarter. Capital World Investors now owns 2,362,294 shares of the conglomerate's stock valued at $256,522,000 after acquiring an additional 100,000 shares during the period. State Street Corp lifted its holdings in Federal Signal by 0.4% in the second quarter. State Street Corp now owns 2,266,523 shares of the conglomerate's stock valued at $241,203,000 after acquiring an additional 7,982 shares during the period. Invesco Ltd. lifted its holdings in Federal Signal by 10.2% in the fourth quarter. Invesco Ltd. now owns 2,168,788 shares of the conglomerate's stock valued at $235,509,000 after acquiring an additional 201,440 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Federal Signal by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 1,725,757 shares of the conglomerate's stock worth $187,427,000 after purchasing an additional 18,587 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FSS shares. Zacks Research cut shares of Federal Signal from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Wall Street Zen cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Federal Signal from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. KeyCorp restated an "overweight" rating and set a $140.00 target price on shares of Federal Signal in a research report on Thursday, April 30th. Finally, DA Davidson increased their target price on shares of Federal Signal from $125.00 to $132.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.33.

Insiders Place Their Bets

In other Federal Signal news, VP Diane Bonina sold 14,856 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $130.44, for a total transaction of $1,937,816.64. Following the completion of the transaction, the vice president directly owned 15,689 shares in the company, valued at approximately $2,046,473.16. This trade represents a 48.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.30% of the company's stock.

Federal Signal Stock Up 2.3%

FSS opened at $125.90 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 2.74. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.24. Federal Signal Corporation has a one year low of $101.18 and a one year high of $134.51. The business's fifty day moving average is $120.72 and its two-hundred day moving average is $115.78.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.13. The business had revenue of $670.20 million during the quarter, compared to analysts' expectations of $667.04 million. Federal Signal had a return on equity of 21.36% and a net margin of 11.66%.The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. Federal Signal has set its FY 2026 guidance at 5.120-5.300 EPS. Analysts anticipate that Federal Signal Corporation will post 5.23 EPS for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Friday, August 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 14th. Federal Signal's dividend payout ratio is presently 12.93%.

About Federal Signal

Federal Signal Corporation NYSE: FSS, headquartered in Oak Brook, Illinois, is a diversified industrial company that designs, manufactures and markets a broad range of products and services for municipal, commercial and industrial customers worldwide. Founded in 1901 in Chicago, the company has grown through a combination of organic investment and strategic acquisitions to become a leading provider of environmental management and safety and security solutions.

Federal Signal operates through two primary business segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source