Envestnet Asset Management Inc. Boosts Stock Position in Federal Signal Corporation (NYSE:FSS)

Envestnet Asset Management Inc. boosted its holdings in Federal Signal Corporation (NYSE:FSS) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,919 shares of the conglomerate’s stock after purchasing an additional 5,017 shares during the period. Envestnet Asset Management Inc.’s holdings in Federal Signal were worth $13,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FSS. Vanguard Group Inc. lifted its position in shares of Federal Signal by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 7,247,803 shares of the conglomerate’s stock valued at $669,625,000 after buying an additional 93,597 shares during the last quarter. Invesco Ltd. lifted its position in shares of Federal Signal by 12.4% during the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock valued at $203,184,000 after buying an additional 242,840 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Federal Signal by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate’s stock valued at $150,715,000 after buying an additional 29,197 shares during the last quarter. FMR LLC lifted its position in shares of Federal Signal by 19.4% during the 4th quarter. FMR LLC now owns 1,469,614 shares of the conglomerate’s stock valued at $135,778,000 after buying an additional 238,608 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Federal Signal by 56.5% during the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock valued at $82,609,000 after buying an additional 322,676 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FSS shares. KeyCorp reaffirmed a “sector weight” rating on shares of Federal Signal in a research report on Friday, July 11th. DA Davidson upped their price target on Federal Signal from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Finally, Raymond James Financial set a $120.00 price target on Federal Signal and gave the company an “outperform” rating in a research report on Monday, June 30th.

Federal Signal Stock Performance

Shares of FSS opened at $108.14 on Friday. The stock’s 50-day simple moving average is $101.08 and its 200 day simple moving average is $91.05. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 2.39. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $114.40.

Federal Signal (NYSE:FSS) last issued its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $463.80 million for the quarter, compared to analysts’ expectations of $462.63 million. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. Research analysts forecast that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.52%. Federal Signal’s dividend payout ratio (DPR) is 16.37%.

Federal Signal declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 22nd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the conglomerate to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.