Federal Signal Corporation (FSS) Holdings Lifted by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan raised its holdings in Federal Signal Corporation (NYSE:FSS) by 59.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,430 shares of the conglomerate’s stock after acquiring an additional 8,350 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Federal Signal were worth $477,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Federal Signal by 8.0% in the second quarter. Franklin Resources Inc. now owns 5,279,934 shares of the conglomerate’s stock valued at $91,659,000 after acquiring an additional 391,353 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Federal Signal by 3.3% during the second quarter. Vanguard Group Inc. now owns 3,197,214 shares of the conglomerate’s stock valued at $55,503,000 after purchasing an additional 103,228 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Federal Signal by 5.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,517,979 shares of the conglomerate’s stock valued at $43,712,000 after purchasing an additional 123,700 shares in the last quarter. FMR LLC boosted its stake in shares of Federal Signal by 104.4% during the second quarter. FMR LLC now owns 1,591,319 shares of the conglomerate’s stock valued at $27,625,000 after purchasing an additional 812,669 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Federal Signal by 1.7% during the second quarter. State Street Corp now owns 1,560,730 shares of the conglomerate’s stock valued at $27,095,000 after purchasing an additional 25,703 shares in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Separately, Zacks Investment Research raised Federal Signal from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, August 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $22.50.
Shares of Federal Signal Corporation (NYSE:FSS) traded down $0.36 during mid-day trading on Wednesday, hitting $20.63. The stock had a trading volume of 155,900 shares, compared to its average volume of 261,959. Federal Signal Corporation has a 12-month low of $13.07 and a 12-month high of $23.64. The firm has a market capitalization of $1,259.06, a price-to-earnings ratio of 27.26 and a beta of 1.30. The company has a quick ratio of 1.23, a current ratio of 2.37 and a debt-to-equity ratio of 0.67.
Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. The company had revenue of $249.00 million for the quarter, compared to analyst estimates of $240.30 million. Federal Signal had a return on equity of 11.39% and a net margin of 5.30%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. analysts forecast that Federal Signal Corporation will post 0.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were issued a $0.07 dividend. The ex-dividend date was Monday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.36%. Federal Signal’s payout ratio is currently 38.36%.
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Federal Signal Company Profile
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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