Norges Bank Makes New $78.19 Million Investment in Federal Signal Co. (NYSE:FSS)

Norges Bank acquired a new stake in shares of Federal Signal Co. (NYSE:FSS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 846,327 shares of the conglomerate's stock, valued at approximately $78,192,000. Norges Bank owned approximately 1.38% of Federal Signal at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Quarry LP grew its position in shares of Federal Signal by 73.5% during the 3rd quarter. Quarry LP now owns 432 shares of the conglomerate's stock worth $40,000 after buying an additional 183 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Federal Signal in the third quarter valued at about $46,000. Signaturefd LLC lifted its stake in Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after acquiring an additional 165 shares during the period. Millburn Ridgefield Corp bought a new position in Federal Signal during the 3rd quarter worth about $70,000. Finally, Mather Group LLC. increased its position in Federal Signal by 20.1% during the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock valued at $82,000 after purchasing an additional 149 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSS. StockNews.com cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Raymond James reaffirmed an "outperform" rating and set a $110.00 target price on shares of Federal Signal in a research report on Tuesday, December 24th.

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Insider Buying and Selling

In related news, CEO Jennifer L. Sherman acquired 1,250 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $82.32 per share, with a total value of $102,900.00. Following the transaction, the chief executive officer now directly owns 559,183 shares of the company's stock, valued at $46,031,944.56. This trade represents a 0.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by company insiders.

Federal Signal Stock Down 1.2 %

Shares of FSS stock traded down $0.86 during mid-day trading on Monday, hitting $70.51. 1,150,066 shares of the stock traded hands, compared to its average volume of 403,106. Federal Signal Co. has a 52-week low of $66.47 and a 52-week high of $102.18. The stock has a market cap of $4.31 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. The stock's fifty day moving average is $85.76 and its two-hundred day moving average is $90.35.

Federal Signal (NYSE:FSS - Get Free Report) last posted its earnings results on Wednesday, February 26th. The conglomerate reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. The company had revenue of $472.00 million during the quarter, compared to analysts' expectations of $481.90 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. Equities analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were given a $0.14 dividend. This is a boost from Federal Signal's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.79%. Federal Signal's dividend payout ratio (DPR) is presently 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.