Federal Signal Corporation $FSS Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has reduced its stake in Federal Signal Corporation by 24.8% after selling 22,354 shares, leaving it with approximately 0.11% ownership valued at $4,991,000.
• Several institutional investors have increased their holdings in Federal Signal, with 92.73% of the stock currently owned by institutional investors.
• The company's stock has received mixed analyst ratings, with price targets ranging from $100.00 to $145.00, indicating varying outlooks among analysts.

Voya Investment Management LLC trimmed its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,852 shares of the conglomerate's stock after selling 22,354 shares during the quarter. Voya Investment Management LLC owned about 0.11% of Federal Signal worth $4,991,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Federal Signal during the first quarter worth about $45,307,000. The Manufacturers Life Insurance Company boosted its holdings in Federal Signal by 1,266.0% during the first quarter. The Manufacturers Life Insurance Company now owns 464,593 shares of the conglomerate's stock worth $34,171,000 after purchasing an additional 430,583 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Federal Signal in the first quarter worth about $26,144,000. Millennium Management LLC raised its position 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 acquiring an additional 194,412 shares during the period. Finally, Jane Street Group LLC raised its position in Federal Signal by 1,020.5% in the first quarter. Jane Street Group LLC now owns 210,438 shares of the conglomerate's stock worth $15,478,000 after acquiring an additional 191,658 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on FSS. KeyCorp reaffirmed a "sector weight" rating on shares of Federal Signal in a research report on Friday, July 11th. CJS Securities reissued a "market perform" rating and set a $125.00 price target on shares of Federal Signal in a research report on Thursday, July 31st. DA Davidson raised their price objective on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Raymond James Financial lifted their price target on shares of Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Federal Signal currently has an average rating of "Hold" and an average price target of $123.00.

Federal Signal Trading Down 1.9%

Shares of NYSE FSS traded down $2.42 during trading on Friday, hitting $125.25. 2,059,009 shares of the company were exchanged, compared to its average volume of 295,856. Federal Signal Corporation has a 12-month low of $66.47 and a 12-month high of $130.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60. The company has a fifty day moving average price of $121.31 and a 200-day moving average price of $100.05. The firm has a market capitalization of $7.61 billion, a PE ratio of 34.89, a P/E/G ratio of 2.23 and a beta of 1.32.

Federal Signal (NYSE:FSS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. The business had revenue of $564.60 million for 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%.The company's quarterly revenue was up 15.1% compared to the same quarter last year. 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. As a group, equities research analysts expect that Federal Signal Corporation will post 3.34 EPS for the current year.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Friday, August 15th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. Federal Signal's payout ratio is currently 15.60%.

Federal Signal Company 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.