Victory Capital Management Inc. lessened its stake in Federal Signal Co. (NYSE:FSS – Get Rating) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 463,065 shares of the conglomerate’s stock after selling 18,789 shares during the period. Victory Capital Management Inc.’s holdings in Federal Signal were worth $21,658,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Federal Signal by 0.4% in the first quarter. BlackRock Inc. now owns 9,248,821 shares of the conglomerate’s stock valued at $312,147,000 after purchasing an additional 40,965 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Federal Signal by 2.1% in the third quarter. Vanguard Group Inc. now owns 4,127,561 shares of the conglomerate’s stock valued at $154,040,000 after purchasing an additional 86,320 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Federal Signal by 5.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,799,397 shares of the conglomerate’s stock worth $99,659,000 after acquiring an additional 148,657 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Federal Signal by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,784,527 shares of the conglomerate’s stock worth $93,979,000 after acquiring an additional 27,052 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Federal Signal by 1.4% during the third quarter. Macquarie Group Ltd. now owns 2,252,049 shares of the conglomerate’s stock worth $84,081,000 after acquiring an additional 31,965 shares during the period. Institutional investors own 89.90% of the company’s stock.
Insiders Place Their Bets
In other Federal Signal news, CFO Ian A. Hudson sold 9,343 shares of Federal Signal stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $52.53, for a total transaction of $490,787.79. Following the completion of the sale, the chief financial officer now owns 70,651 shares of the company’s stock, valued at $3,711,297.03. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Ian A. Hudson sold 9,343 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $52.53, for a total transaction of $490,787.79. Following the completion of the sale, the chief financial officer now directly owns 70,651 shares in the company, valued at approximately $3,711,297.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ian A. Hudson sold 49,330 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $51.78, for a total value of $2,554,307.40. Following the sale, the chief financial officer now owns 70,651 shares of the company’s stock, valued at $3,658,308.78. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.
Federal Signal Price Performance
Federal Signal (NYSE:FSS – Get Rating) last posted its earnings results on Tuesday, May 2nd. The conglomerate reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Federal Signal had a return on equity of 15.06% and a net margin of 8.54%. The business had revenue of $385.50 million during the quarter, compared to analysts’ expectations of $370.61 million. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 16.7% on a year-over-year basis. On average, research analysts forecast that Federal Signal Co. will post 2.37 earnings per share for the current fiscal year.
Federal Signal Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.73%. This is a boost from Federal Signal’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, May 18th. Federal Signal’s payout ratio is presently 19.14%.
Analysts Set New Price Targets
A number of analysts recently commented on FSS shares. Raymond James lifted their price target on Federal Signal from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 2nd. Sidoti lowered Federal Signal from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Thursday, February 23rd. StockNews.com started coverage on Federal Signal in a report on Thursday. They set a “hold” rating on the stock. Finally, DA Davidson lifted their price target on Federal Signal from $54.00 to $68.00 in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.25.
About Federal Signal
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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