Principal Financial Group Inc. grew its stake in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 330,981 shares of the conglomerate's stock after acquiring an additional 7,425 shares during the period. Principal Financial Group Inc. owned about 0.54% of Federal Signal worth $24,344,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of FSS. CoreCap Advisors LLC lifted its stake in Federal Signal by 19.9% in the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after purchasing an additional 145 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Federal Signal by 0.9% in the fourth quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate's stock valued at $1,640,000 after buying an additional 152 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Federal Signal by 16.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after buying an additional 162 shares during the last quarter. Signaturefd LLC grew its stake in shares of Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after acquiring an additional 165 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in Federal Signal by 15.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after acquiring an additional 181 shares during the last quarter. 92.73% of the stock is owned by institutional investors.
Federal Signal Price Performance
NYSE FSS traded down $3.05 on Friday, hitting $110.03. The stock had a trading volume of 1,128,138 shares, compared to its average volume of 467,092. The firm has a 50-day moving average of $99.54 and a 200-day moving average of $90.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.39. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $114.40. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.27.
Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The company had revenue of $463.80 million for the quarter, compared to the consensus estimate of $462.63 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm's revenue was up 9.2% compared to the same quarter last year. Equities analysts expect that Federal Signal Corporation will post 3.34 EPS for the current year.
Federal Signal announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the conglomerate to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.
Federal Signal Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is 16.37%.
Wall Street Analyst Weigh In
FSS has been the topic of several recent research reports. Raymond James Financial set a $120.00 price objective on shares of Federal Signal and gave the company an "outperform" rating in a report on Monday, June 30th. DA Davidson upped their price target on shares of Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Federal Signal in a research note on Friday.
Read Our Latest Research Report on Federal Signal
About Federal Signal
(
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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