Oppenheimer Asset Management Inc. Trims Holdings in Federal Signal Co. (NYSE:FSS)

Posted by Defense World Staff on Aug 27th, 2023

Oppenheimer Asset Management Inc. decreased its holdings in Federal Signal Co. (NYSE:FSS – Free Report) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,705 shares of the conglomerate’s stock after selling 4,047 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Federal Signal were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Citigroup Inc. raised its holdings in Federal Signal by 22.6% during the fourth quarter. Citigroup Inc. now owns 40,166 shares of the conglomerate’s stock worth $1,867,000 after purchasing an additional 7,408 shares in the last quarter. FORA Capital LLC purchased a new position in Federal Signal during the fourth quarter worth about $342,000. ProShare Advisors LLC boosted its position in shares of Federal Signal by 14.8% during the 4th quarter. ProShare Advisors LLC now owns 9,455 shares of the conglomerate’s stock worth $439,000 after purchasing an additional 1,220 shares in the last quarter. M&T Bank Corp boosted its position in shares of Federal Signal by 34.3% during the 4th quarter. M&T Bank Corp now owns 21,893 shares of the conglomerate’s stock worth $1,352,000 after purchasing an additional 5,595 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of Federal Signal by 33.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 54,379 shares of the conglomerate’s stock worth $2,948,000 after purchasing an additional 13,613 shares in the last quarter. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Transactions at Federal Signal

In related news, Director Dennis J. Martin sold 17,745 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $61.26, for a total transaction of $1,087,058.70. Following the sale, the director now owns 555,741 shares in the company, valued at $34,044,693.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

FSS has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Federal Signal in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Raymond James raised their price objective on Federal Signal from $68.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 20th. Finally, DA Davidson downgraded Federal Signal from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $66.00 in a research note on Monday, July 31st.

Read Our Latest Report on FSS

Federal Signal Stock Up 0.8 %

Shares of NYSE FSS opened at $58.46 on Friday. Federal Signal Co. has a 12-month low of $37.13 and a 12-month high of $65.33. The company has a market capitalization of $3.57 billion, a PE ratio of 26.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.05 and a quick ratio of 1.34. The firm’s 50-day moving average is $61.86 and its two-hundred day moving average is $56.49.

Federal Signal (NYSE:FSS – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The conglomerate reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Federal Signal had a net margin of 8.56% and a return on equity of 15.62%. The company had revenue of $442.40 million for the quarter, compared to the consensus estimate of $430.13 million. Equities analysts anticipate that Federal Signal Co. will post 2.43 EPS for the current fiscal year.

Federal Signal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.40 annualized dividend and a dividend yield of 0.68%. Federal Signal’s dividend payout ratio is currently 18.18%.

About Federal Signal

(Free Report)

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.