Vaughan Nelson Investment Management L.P. bought a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 355,450 shares of the conglomerate's stock, valued at approximately $26,144,000. Vaughan Nelson Investment Management L.P. owned approximately 0.58% of Federal Signal at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in FSS. Capital World Investors purchased a new position in Federal Signal in the fourth quarter valued at $79,810,000. Norges Bank acquired a new stake in Federal Signal during the fourth quarter worth approximately $78,192,000. Raymond James Financial Inc. acquired a new stake in Federal Signal during the 4th quarter worth $36,636,000. First Trust Advisors LP lifted its holdings in shares of Federal Signal by 56.5% in the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock valued at $82,609,000 after purchasing an additional 322,676 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Federal Signal by 12.4% in the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate's stock valued at $203,184,000 after buying an additional 242,840 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on FSS. KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 target price for the company in a research note on Monday, May 12th. DA Davidson increased their target price 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. Wall Street Zen downgraded Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Finally, Raymond James reduced their target price on Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th.
View Our Latest Research Report on FSS
Federal Signal Trading Up 1.5%
Shares of NYSE:FSS traded up $1.47 during midday trading on Monday, reaching $101.11. The company's stock had a trading volume of 38,115 shares, compared to its average volume of 444,053. Federal Signal Co. has a 1 year low of $66.47 and a 1 year high of $102.44. The business has a 50 day moving average price of $87.35 and a 200 day moving average price of $89.08. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26.
Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $463.80 million for 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 business's quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Research analysts forecast that Federal Signal Co. will post 3.34 EPS for the current year.
Federal Signal Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, May 16th. Federal Signal's payout ratio is 16.37%.
Federal Signal announced that its board has authorized a share buyback plan on Tuesday, April 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the conglomerate to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
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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