Panagora Asset Management Inc. grew its position in shares of Federal Signal Co. (NYSE:FSS – Get Rating) by 148.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,648 shares of the conglomerate’s stock after acquiring an additional 48,848 shares during the quarter. Panagora Asset Management Inc. owned about 0.13% of Federal Signal worth $3,794,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of FSS. American Century Companies Inc. boosted its position in shares of Federal Signal by 22.6% during the first quarter. American Century Companies Inc. now owns 9,851 shares of the conglomerate’s stock valued at $332,000 after buying an additional 1,819 shares during the last quarter. Citigroup Inc. boosted its position in shares of Federal Signal by 5.8% during the first quarter. Citigroup Inc. now owns 68,055 shares of the conglomerate’s stock valued at $2,297,000 after buying an additional 3,713 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Federal Signal by 9.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,216 shares of the conglomerate’s stock valued at $142,000 after buying an additional 376 shares during the last quarter. MetLife Investment Management LLC boosted its position in Federal Signal by 56.6% in the first quarter. MetLife Investment Management LLC now owns 32,782 shares of the conglomerate’s stock worth $1,106,000 after purchasing an additional 11,850 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Federal Signal by 17.8% in the first quarter. Rhumbline Advisers now owns 169,901 shares of the conglomerate’s stock worth $5,734,000 after purchasing an additional 25,702 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.
Insider Activity at Federal Signal
In other Federal Signal news, CFO Ian A. Hudson sold 49,330 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 70,651 shares in the company, valued at approximately $3,658,308.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Federal Signal news, CFO Ian A. Hudson sold 49,330 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 70,651 shares in the company, valued at approximately $3,658,308.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren B. Elting sold 14,541 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $53.86, for a total value of $783,178.26. Following the completion of the transaction, the chief accounting officer now owns 13,991 shares in the company, valued at $753,555.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,214 shares of company stock worth $3,828,273. 3.10% of the stock is owned by company insiders.
Federal Signal Stock Down 1.0 %
Federal Signal (NYSE:FSS – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The conglomerate reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Federal Signal had a return on equity of 15.06% and a net margin of 8.54%. The company had revenue of $385.50 million for the quarter, compared to analyst estimates of $370.61 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that Federal Signal Co. will post 2.37 EPS for the current year.
Federal Signal Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Federal Signal’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, May 18th. Federal Signal’s payout ratio is presently 19.14%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on FSS shares. Sidoti cut Federal Signal from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Thursday, February 23rd. StockNews.com started coverage on Federal Signal in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. DA Davidson boosted their price objective on Federal Signal from $54.00 to $68.00 in a research report on Thursday, March 2nd. Finally, Raymond James upped their price target on Federal Signal from $57.00 to $68.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.25.
Federal Signal 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.
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