Bank of Nova Scotia acquired a new position in shares of Federal Signal Co. (NYSE:FSS – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,576 shares of the conglomerate’s stock, valued at approximately $213,000.
Several other institutional investors also recently modified their holdings of FSS. Point72 Hong Kong Ltd acquired a new stake in shares of Federal Signal during the 1st quarter worth approximately $51,000. Lazard Asset Management LLC bought a new position in shares of Federal Signal during the 1st quarter worth approximately $52,000. CWM LLC lifted its position in shares of Federal Signal by 19.7% during the 4th quarter. CWM LLC now owns 1,386 shares of the conglomerate’s stock worth $64,000 after buying an additional 228 shares during the period. Belpointe Asset Management LLC bought a new position in shares of Federal Signal during the 4th quarter worth approximately $93,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Federal Signal by 458.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,338 shares of the conglomerate’s stock worth $125,000 after buying an additional 2,740 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
Insider Buying and Selling
In related news, CFO Ian A. Hudson sold 9,343 shares of Federal Signal stock in a transaction on 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 of the company’s stock, valued at $3,711,297.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Federal Signal news, CAO Lauren B. Elting sold 14,541 shares of the business’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 directly owns 13,991 shares of the company’s stock, valued at $753,555.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ian A. Hudson sold 9,343 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $52.53, for a total value of $490,787.79. Following the completion of the transaction, the chief financial officer now directly owns 70,651 shares of the company’s stock, valued at $3,711,297.03. The disclosure for this sale can be found here. Insiders sold a total of 73,214 shares of company stock valued at $3,828,273 over the last three months. Company insiders own 3.10% of the company’s stock.
Federal Signal Trading Up 1.1 %
Federal Signal (NYSE:FSS – Get Rating) last released its earnings results on Tuesday, May 2nd. The conglomerate reported $0.46 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $370.61 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect 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 will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, May 18th. This is a boost from Federal Signal’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Federal Signal’s payout ratio is 19.14%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. DA Davidson raised their target price on Federal Signal from $54.00 to $68.00 in a research report on Thursday, March 2nd. Sidoti downgraded Federal Signal from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. 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 for the company. Finally, Raymond James lifted their price objective 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 investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.25.
Federal Signal Company 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.
- Get a free copy of the StockNews.com research report on Federal Signal (FSS)
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