Tema Etfs LLC Invests $5.11 Million in Federal Signal Co. (NYSE:FSS)

Tema Etfs LLC acquired a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 55,272 shares of the conglomerate's stock, valued at approximately $5,107,000. Federal Signal makes up about 2.1% of Tema Etfs LLC's portfolio, making the stock its 13th biggest holding. Tema Etfs LLC owned approximately 0.09% of Federal Signal as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors purchased a new position in Federal Signal in the 4th quarter valued at about $79,810,000. Norges Bank purchased a new stake in shares of Federal Signal during the 4th quarter valued at about $78,192,000. Raymond James Financial Inc. acquired a new stake in Federal Signal during the 4th quarter valued at $36,636,000. First Trust Advisors LP grew its position in shares of Federal Signal by 56.5% during the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock worth $82,609,000 after buying an additional 322,676 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of 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 purchasing an additional 242,840 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jennifer L. Sherman bought 1,250 shares of the business's stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $82.32 per share, with a total value of $102,900.00. Following the transaction, the chief executive officer now directly owns 559,183 shares in the company, valued at approximately $46,031,944.56. The trade was a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.30% of the company's stock.

Federal Signal Price Performance

Shares of FSS traded down $0.91 during trading hours on Friday, hitting $92.20. 77,136 shares of the company were exchanged, compared to its average volume of 434,979. The firm has a fifty day simple moving average of $80.47 and a 200-day simple moving average of $88.63. The company has a market capitalization of $5.62 billion, a PE ratio of 26.67, a PEG ratio of 1.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. Federal Signal Co. has a one year low of $66.47 and a one year high of $102.18.

Federal Signal (NYSE:FSS - Get Free Report) last released its 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. The company had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The company's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. As a group, sell-side analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current year.

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

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.61%. Federal Signal's dividend payout ratio (DPR) is currently 16.37%.

Analysts Set New Price Targets

Several research firms have weighed in on FSS. Wall Street Zen lowered shares of Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp raised shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a report on Monday, May 12th. Raymond James lowered their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, DA Davidson increased their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Federal Signal currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Federal Signal 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.