Cibc World Markets Corp Acquires New Position in Federal Signal Co. (NYSE:FSS)

Cibc World Markets Corp bought a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,627 shares of the conglomerate's stock, valued at approximately $520,000.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC grew its stake in Federal Signal by 44.4% during the 3rd quarter. Intech Investment Management LLC now owns 32,939 shares of the conglomerate's stock valued at $3,078,000 after acquiring an additional 10,134 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Federal Signal by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,047 shares of the conglomerate's stock valued at $71,875,000 after purchasing an additional 31,517 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Federal Signal by 7.7% in the third quarter. Raymond James Trust N.A. now owns 3,038 shares of the conglomerate's stock valued at $284,000 after purchasing an additional 216 shares during the last quarter. Citigroup Inc. lifted its position in Federal Signal by 39.3% during the third quarter. Citigroup Inc. now owns 82,664 shares of the conglomerate's stock worth $7,726,000 after buying an additional 23,310 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Federal Signal by 12.8% during the third quarter. Cerity Partners LLC now owns 44,712 shares of the conglomerate's stock worth $4,179,000 after buying an additional 5,070 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Federal Signal

In other news, CEO Jennifer L. Sherman purchased 1,250 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the transaction, the chief executive officer now directly owns 559,183 shares in the company, valued at approximately $46,031,944.56. This represents a 0.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FSS shares. Raymond James reaffirmed an "outperform" rating and issued a $110.00 target price on shares of Federal Signal in a research note on Tuesday, December 24th. StockNews.com cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Federal Signal Trading Up 0.4 %

NYSE:FSS traded up $0.33 on Wednesday, reaching $79.42. The company's stock had a trading volume of 591,476 shares, compared to its average volume of 363,073. Federal Signal Co. has a 12-month low of $74.23 and a 12-month high of $102.18. The stock has a 50 day moving average price of $89.95 and a 200 day moving average price of $91.10. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 1.85 and a beta of 1.02. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $472.00 million for the quarter, compared to analyst estimates of $481.90 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. On average, equities analysts anticipate that Federal Signal Co. will post 3.34 EPS for the current fiscal year.

Federal Signal Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 14th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, March 14th. This is an increase from Federal Signal's previous quarterly dividend of $0.12. Federal Signal's dividend payout ratio (DPR) is 15.95%.

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.