StockNews.com upgraded shares of Federal Signal (NYSE:FSS – Free Report) from a hold rating to a buy rating in a report issued on Saturday morning.
FSS has been the topic of a number of other reports. DA Davidson reduced their price objective on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and set a $110.00 price target on shares of Federal Signal in a report on Tuesday, December 24th.
Read Our Latest Stock Report on FSS
Federal Signal Trading Down 0.5 %
Federal Signal (NYSE:FSS – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. The business had revenue of $474.20 million during the quarter, compared to analysts’ expectations of $481.71 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 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts anticipate that Federal Signal will post 3.34 earnings per share for the current fiscal year.
Federal Signal Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, November 15th. Federal Signal’s payout ratio is 13.91%.
Institutional Investors Weigh In On Federal Signal
Institutional investors and hedge funds have recently bought and sold shares of the stock. ArrowMark Colorado Holdings LLC purchased a new position in shares of Federal Signal during the third quarter worth about $28,863,000. Geode Capital Management LLC grew its stake in Federal Signal by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,601,774 shares of the conglomerate’s stock worth $149,727,000 after buying an additional 239,789 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Federal Signal by 113.4% during the third quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after buying an additional 211,555 shares during the period. Millennium Management LLC lifted its stake in Federal Signal by 77.8% in the second quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock valued at $37,298,000 after buying an additional 195,017 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Federal Signal by 20.3% in the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock valued at $76,340,000 after acquiring an additional 153,765 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.
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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