Federal Signal (NYSE:FSS) Price Target Lowered to $90.00 at DA Davidson

Federal Signal (NYSE:FSS) had its target price lowered by DA Davidson from $94.00 to $90.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the conglomerate’s stock.

Federal Signal Stock Up 3.7 %

NYSE:FSS opened at $84.59 on Tuesday. Federal Signal has a twelve month low of $62.99 and a twelve month high of $102.18. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 24.52 and a beta of 0.95. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $88.97 and its two-hundred day moving average price is $88.68.

Federal Signal (NYSE:FSS) last issued its earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The business had revenue of $474.20 million for the quarter, compared to the consensus estimate of $481.71 million. During the same period in the previous year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts expect that Federal Signal will post 3.35 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 0.57%. Federal Signal’s dividend payout ratio is 13.91%.

Insider Activity

In related news, Director Brenda Reichelderfer sold 25,685 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $92.99, for a total transaction of $2,388,448.15. Following the transaction, the director now directly owns 57,417 shares of the company’s stock, valued at approximately $5,339,206.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Federal Signal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSS. Assenagon Asset Management S.A. boosted its holdings in shares of Federal Signal by 113.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after buying an additional 211,555 shares during the period. Millennium Management LLC lifted its position in Federal Signal by 77.8% during the second quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock worth $37,298,000 after acquiring an additional 195,017 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Federal Signal by 20.3% during the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock worth $76,340,000 after acquiring an additional 153,765 shares during the period. PineStone Asset Management Inc. acquired a new position in shares of Federal Signal in the second quarter valued at approximately $11,982,000. Finally, F M Investments LLC bought a new position in shares of Federal Signal during the second quarter worth approximately $11,058,000. 92.73% of the stock is owned by institutional investors.

About Federal Signal

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.