Walleye Capital LLC Acquires New Position in Federal Signal Corporation $FSS

Key Points

• Walleye Capital LLC has acquired a new stake in Federal Signal Corporation, purchasing 7,539 shares valued at approximately $554,000 in the first quarter.
• Federal Signal recently reported quarterly earnings of $1.17 per share, surpassing analysts' estimates and demonstrating a 15.1% increase in revenue year-over-year.
• The company's stock has a current market cap of $7.47 billion and analysts have set varying price targets, with the consensus rating at a "Hold" and an average target price of $123.00.

Walleye Capital LLC bought a new stake in Federal Signal Corporation (NYSE:FSS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,539 shares of the conglomerate's stock, valued at approximately $554,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. boosted its holdings in Federal Signal by 2.0% in the first quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate's stock valued at $76,901,000 after acquiring an additional 20,771 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Federal Signal by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 718,214 shares of the conglomerate's stock valued at $52,826,000 after acquiring an additional 2,057 shares during the last quarter. Northern Trust Corp boosted its holdings in Federal Signal by 10.8% in the fourth quarter. Northern Trust Corp now owns 693,729 shares of the conglomerate's stock valued at $64,094,000 after acquiring an additional 67,716 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Federal Signal by 21.8% in the fourth quarter. Ameriprise Financial Inc. now owns 691,798 shares of the conglomerate's stock valued at $63,915,000 after acquiring an additional 123,892 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Federal Signal by 0.5% in the fourth quarter. Nuveen Asset Management LLC now owns 649,593 shares of the conglomerate's stock valued at $60,016,000 after acquiring an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

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

Federal Signal Stock Down 0.1%

Shares of NYSE FSS traded down $0.17 during midday trading on Friday, reaching $124.80. 230,267 shares of the company's stock were exchanged, compared to its average volume of 409,492. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $130.30. The stock has a market capitalization of $7.59 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.32. 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 business's fifty day moving average price is $118.35 and its two-hundred day moving average price is $97.27.

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

Federal Signal Announces Dividend

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