Envestnet Asset Management Inc. Acquires 5,017 Shares of Federal Signal Corporation (NYSE:FSS)

Envestnet Asset Management Inc. boosted its holdings in Federal Signal Corporation (NYSE:FSS) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,919 shares of the conglomerate’s stock after purchasing an additional 5,017 shares during the quarter. Envestnet Asset Management Inc. owned about 0.31% of Federal Signal worth $13,969,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FSS. Swiss National Bank increased its holdings in Federal Signal by 0.8% in the fourth quarter. Swiss National Bank now owns 120,200 shares of the conglomerate’s stock worth $11,105,000 after purchasing an additional 900 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Federal Signal by 30.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,911 shares of the conglomerate’s stock valued at $361,000 after acquiring an additional 923 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of Federal Signal during the fourth quarter valued at approximately $520,000. Signaturefd LLC increased its holdings in shares of Federal Signal by 37.4% during the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 165 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Federal Signal by 9.7% during the fourth quarter. Xponance Inc. now owns 4,314 shares of the conglomerate’s stock valued at $399,000 after acquiring an additional 381 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Federal Signal Stock Up 0.9%

Shares of NYSE:FSS opened at $108.14 on Friday. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.00 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. Federal Signal Corporation has a 12-month low of $66.47 and a 12-month high of $114.40. The business’s 50 day moving average is $101.08 and its 200 day moving average is $91.05.

Federal Signal (NYSE:FSS) last announced its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. The company had revenue of $463.80 million for the quarter, compared to analysts’ expectations of $462.63 million. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. Federal Signal’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, sell-side analysts forecast that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal declared that its board has authorized a stock buyback program on Tuesday, April 22nd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Federal Signal Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.52%. Federal Signal’s payout ratio is 16.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FSS shares. DA Davidson boosted their price objective on Federal Signal from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, June 24th. Raymond James Financial set a $120.00 price objective on Federal Signal and gave the company an “outperform” rating in a report on Monday, June 30th. Finally, KeyCorp restated a “sector weight” rating on shares of Federal Signal in a report on Friday, July 11th.

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.