Citigroup Inc. Acquires 7,408 Shares of Federal Signal Co. (NYSE:FSS)

Citigroup Inc. lifted its position in Federal Signal Co. (NYSE:FSS – Get Rating) by 22.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,166 shares of the conglomerate’s stock after purchasing an additional 7,408 shares during the quarter. Citigroup Inc.’s holdings in Federal Signal were worth $1,867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Federal Signal in the 1st quarter worth about $51,000. Lazard Asset Management LLC purchased a new position in shares of Federal Signal in the 1st quarter worth about $52,000. CWM LLC boosted its holdings in shares of Federal Signal by 19.7% in the 4th quarter. CWM LLC now owns 1,386 shares of the conglomerate’s stock worth $64,000 after purchasing an additional 228 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Federal Signal in the 4th quarter worth about $93,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Federal Signal by 458.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,338 shares of the conglomerate’s stock worth $125,000 after purchasing an additional 2,740 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Federal Signal

In other news, CFO Ian A. Hudson sold 49,330 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $51.78, for a total value of $2,554,307.40. Following the completion of the transaction, the chief financial officer now owns 70,651 shares of the company’s stock, valued at approximately $3,658,308.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ian A. Hudson sold 49,330 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $51.78, for a total value of $2,554,307.40. Following the completion of the transaction, the chief financial officer now owns 70,651 shares of the company’s stock, valued at approximately $3,658,308.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ian A. Hudson sold 9,343 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $52.53, for a total value of $490,787.79. Following the transaction, the chief financial officer now directly owns 70,651 shares of the company’s stock, valued at approximately $3,711,297.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,214 shares of company stock valued at $3,828,273. Corporate insiders own 3.10% of the company’s stock.

Federal Signal Trading Up 1.1 %

FSS opened at $53.37 on Friday. The business has a 50 day simple moving average of $52.12 and a two-hundred day simple moving average of $50.85. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 25.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.79 and a quick ratio of 1.22. Federal Signal Co. has a one year low of $33.68 and a one year high of $58.15.

Federal Signal (NYSE:FSS – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The conglomerate reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $385.50 million during the quarter, compared to analyst estimates of $370.61 million. Federal Signal had a return on equity of 15.06% and a net margin of 8.54%. Federal Signal’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. Analysts predict that Federal Signal Co. will post 2.37 EPS for the current year.

Federal Signal Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.75%. This is a positive change from Federal Signal’s previous quarterly dividend of $0.09. Federal Signal’s dividend payout ratio is currently 19.14%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FSS shares. Raymond James upped their price objective on Federal Signal from $57.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 2nd. DA Davidson increased their target price on Federal Signal from $54.00 to $68.00 in a report on Thursday, March 2nd. Sidoti cut Federal Signal from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Thursday, February 23rd. Finally, StockNews.com assumed coverage on Federal Signal in a report on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Federal Signal presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.25.

Federal Signal Company Profile

(Get Rating)

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.