UBS Asset Management Americas Inc. lessened its stake in Federal Signal Co. (NYSE:FSS) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,514 shares of the conglomerate’s stock after selling 2,395 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.12% of Federal Signal worth $2,405,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in FSS. Robecosam AG purchased a new position in Federal Signal in the 4th quarter worth approximately $13,865,000. Robeco Institutional Asset Management B.V. purchased a new position in Federal Signal in the 4th quarter worth approximately $13,434,000. BlackRock Inc. grew its stake in Federal Signal by 4.6% in the 4th quarter. BlackRock Inc. now owns 9,036,099 shares of the conglomerate’s stock worth $299,725,000 after buying an additional 394,898 shares in the last quarter. GW&K Investment Management LLC grew its stake in Federal Signal by 47.3% in the 4th quarter. GW&K Investment Management LLC now owns 1,224,829 shares of the conglomerate’s stock worth $40,628,000 after buying an additional 393,321 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Federal Signal by 25.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,907,752 shares of the conglomerate’s stock worth $63,280,000 after buying an additional 381,840 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Jennifer L. Sherman sold 112,759 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $38.18, for a total transaction of $4,305,138.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.90% of the company’s stock.
Federal Signal (NYSE:FSS) last announced its quarterly earnings data on Thursday, February 25th. The conglomerate reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Federal Signal had a net margin of 8.68% and a return on equity of 16.12%. The company had revenue of $294.80 million during the quarter, compared to analysts’ expectations of $291.57 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s revenue was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Federal Signal Co. will post 1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Friday, March 19th were issued a dividend of $0.09 per share. This is a positive change from Federal Signal’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, March 18th. Federal Signal’s dividend payout ratio is currently 20.11%.
Separately, Raymond James raised shares of Federal Signal from a “market perform” rating to a “strong-buy” rating and set a $45.00 price target for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Federal Signal has a consensus rating of “Buy” and an average target price of $37.75.
About Federal Signal
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.
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