Comerica Bank reduced its position in Federal Signal Co. (NYSE:FSS – Get Rating) by 1.7% in Q1, HoldingsChannel.com reports. The institutional investor held 57,514 shares of the conglomerate after selling 969 shares during the period. Comerica Bank’s holdings in Federal Signal were worth $1,975,000 at the end of the last quarter.
Several other hedge funds and other institutional investors have also recently changed their positions in FSS. Robeco Institutional Asset Management BV increased its holdings of Federal Signal shares by 2.4% in the first quarter. Robeco Institutional Asset Management BV now owns 1,062,330 shares of the conglomerate worth $35,854,000 after purchasing an additional 25,330 shares during the period. Assenagon Asset Management SA increased its holdings of Federal Signal shares by 6.9% in the first quarter. Assenagon Asset Management SA now owns 211,519 shares of the conglomerate worth $7,139,000 after purchasing an additional 13,657 shares during the period. Hudson Value Partners LLC increased its holdings of Federal Signal stock 12.2% in the first quarter. Hudson Value Partners LLC now owns 8,760 shares of the conglomerate worth $296,000 after purchasing an additional 950 shares during the period. Westwood Holdings Group Inc. increased its holdings of Federal Signal stock by 19.6% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,484,562 shares of the conglomerate worth $64,341,000 after purchasing an additional 243,283 shares during the period. Finally, Barclays PLC increased its holding in shares of Federal Signal by 9.0% during the fourth quarter. Barclays PLC now owns 108,191 shares in the conglomerate worth $4,688,000 after buying an additional 8,915 shares during the period. 91.53% of the shares are currently held by institutional investors and hedge funds.
Changes to analyst ratings
Several research companies have recently commented on FSS. Raymond James lowered his price target on Federal Signal shares from $46.00 to $45.00 and set a “Strong Buy” rating for the company in a Tuesday, April 26 report. StockNews.com launched coverage on Federal Signal shares in a Thursday, March 31 report. They set a “holding” rating for the company. Two investment analysts have assigned the stock a hold rating, two have issued a buy rating and one has assigned the stock a strong buy rating. Based on MarketBeat data, Federal Signal has a consensus rating of “Moderate Buy” and an average price target of $46.50.
Federal Signal Price Performance
FSS shares opened at $37.47 on Monday. The company has a market capitalization of $2.27 billion, a PE ratio of 23.42 and a beta of 0.92. The company’s 50-day moving average price is $35.25 and its 200-day moving average price is $35.62. The company has a debt ratio of 0.42, a quick ratio of 1.18 and a current ratio of 2.56. Federal Signal Co. has a 12-month low of $31.86 and a 12-month high of $48.88.
Federal Signal (NYSE:FSS – Get Rating) last released quarterly earnings data on Monday, May 2. The conglomerate reported earnings per share of $0.34 for the quarter, beating the consensus estimate of $0.27 by $0.07. The company posted revenue of $330.20 million for the quarter, versus analyst estimates of $307.88 million. Federal Signal had a net margin of 7.82% and a return on equity of 13.74%. As a group, research analysts expect Federal Signal Co. to post EPS of 1.92 for the current fiscal year.
Federal Signal Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 3. Shareholders of record on Friday, May 20 received a dividend of $0.09. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, May 19. Federal Signal’s dividend payout ratio is 22.50%.
About Federal Signal
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Federal Signal Corp. engages in the design and manufacture of integrated products and solutions for municipal, government, industrial and commercial customers. It operates through the segments of Environmental Solutions Group and Safety and Security Systems Group. The Environment Solutions Group segment is involved in the manufacture and supply of street sweepers, sewer cleaners, vacuum trucks, hydro excavation trucks and wet stripping equipment.
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