Truist Financial Corp Purchases 13,141 Shares of Federal Signal Corporation $FSS

Key Points

• Truist Financial Corp increased its stake in Federal Signal Corporation by 32.5%, acquiring an additional 13,141 shares during the second quarter, bringing their total holding to approximately 53,519 shares valued at $5.7 million.
• Research analysts have mixed opinions on Federal Signal, with a consensus rating of "Hold" and a price target average of $123.00.
• Federal Signal reported strong quarterly earnings with an EPS of $1.17, surpassing estimates, and announced a quarterly dividend of $0.14, reflecting a yield of 0.5%.

Truist Financial Corp lifted its position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 32.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,519 shares of the conglomerate's stock after purchasing an additional 13,141 shares during the quarter. Truist Financial Corp owned about 0.09% of Federal Signal worth $5,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FSS. Nuveen LLC bought a new stake in shares of Federal Signal during the 1st quarter valued at $45,307,000. Congress Asset Management Co. purchased a new position in Federal Signal during the 2nd quarter valued at about $51,945,000. The Manufacturers Life Insurance Company lifted its position in Federal Signal by 1,266.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 464,593 shares of the conglomerate's stock valued at $34,171,000 after acquiring an additional 430,583 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Federal Signal during the first quarter worth about $26,144,000. Finally, Millennium Management LLC grew its holdings in Federal Signal by 63.0% in the first quarter. Millennium Management LLC now owns 503,120 shares of the conglomerate's stock worth $37,004,000 after purchasing an additional 194,412 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FSS. DA Davidson lifted their target price on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. KeyCorp reiterated a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. CJS Securities reissued a "market perform" rating and set a $125.00 price objective on shares of Federal Signal in a research report on Thursday, July 31st. Finally, Zacks Research downgraded shares of Federal Signal from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $123.00.

Federal Signal Trading Up 0.1%

Shares of NYSE:FSS opened at $118.59 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.60 and a quick ratio of 1.25. Federal Signal Corporation has a 1 year low of $66.47 and a 1 year high of $130.30. The company has a market cap of $7.21 billion, a P/E ratio of 33.03, a PEG ratio of 2.11 and a beta of 1.29. The stock's fifty day moving average price is $124.13 and its 200-day moving average price is $103.48.

Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.11. The business had revenue of $564.60 million during the quarter, compared to analyst estimates of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%.Federal Signal's revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. Sell-side analysts expect that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Friday, August 15th were issued a $0.14 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.5%. Federal Signal's dividend payout ratio (DPR) is currently 15.60%.

About Federal Signal

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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