Raymond James Financial Inc. bought a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 396,533 shares of the conglomerate's stock, valued at approximately $36,636,000. Raymond James Financial Inc. owned approximately 0.65% of Federal Signal as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Federal Signal during the third quarter worth about $46,000. Signaturefd LLC lifted its holdings in shares of Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after acquiring an additional 165 shares during the period. Mather Group LLC. boosted its position in shares of Federal Signal by 20.1% during the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock worth $82,000 after acquiring an additional 149 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Federal Signal by 15.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after acquiring an additional 181 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Federal Signal by 182.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the conglomerate's stock valued at $127,000 after acquiring an additional 891 shares during the last quarter. Institutional investors own 92.73% of the company's stock.
Analyst Ratings Changes
A number of brokerages have weighed in on FSS. StockNews.com downgraded Federal Signal from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. Raymond James reduced their price objective on Federal Signal from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th.
Check Out Our Latest Report on Federal Signal
Federal Signal Price Performance
NYSE:FSS traded up $0.91 on Tuesday, hitting $73.61. The company had a trading volume of 457,579 shares, compared to its average volume of 417,816. The firm has a 50 day moving average of $79.66 and a two-hundred day moving average of $88.74. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.85 and a beta of 1.11. Federal Signal Co. has a 52 week low of $66.47 and a 52 week high of $102.18. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19.
Federal Signal (NYSE:FSS - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $472.00 million for the quarter, compared to the consensus estimate of $481.90 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. On average, research analysts anticipate that Federal Signal Co. will post 3.34 earnings per share for the current year.
Federal Signal Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. Federal Signal's dividend payout ratio is currently 15.95%.
Federal Signal announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Insider Activity at Federal Signal
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 acquired at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 559,183 shares of the company's stock, valued at approximately $46,031,944.56. This trade represents a 0.22 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by company insiders.
Federal Signal Profile
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Free Report)
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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