Signal management

Assenagon Asset Management SA increases its stake in Federal Signal Co. (NYSE:FSS)


Assenagon Asset Management SA increased its stake in shares of Federal Signal Co. (NYSE:FSS – Get Rating) by 6.9% in the first quarter, HoldingsChannel reports. The institutional investor held 211,519 shares of the conglomerate after acquiring an additional 13,657 shares during the period. Assenagon Asset Management SA’s holdings in Federal Signal were worth $7,139,000 at the end of the most recent period.

A number of other institutional investors and hedge funds have also recently changed their positions in FSS. Bank of New York Mellon Corp increased its stake in Federal Signal by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 784,491 shares of the conglomerate valued at $30,298,000 after buying an additional 5,441 shares last quarter. UBS Asset Management Americas Inc. increased its holdings in Federal Signal by 1.8% during the third quarter. UBS Asset Management Americas Inc. now owns 76,686 shares of the conglomerate valued at $2,962,000 after buying an additional 1,327 shares last quarter. Avantax Advisory Services Inc. increased its stake in Federal Signal by 43.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,851 shares of the conglomerate valued at $384,000 after purchasing an additional 2,670 shares last quarter. National Bank of Canada FI acquired a new stake in Federal Signal during the 4th quarter valued at approximately $40,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Federal Signal stock in the fourth quarter worth $8,606,000. 91.53% of the shares are held by institutional investors and hedge funds.

NYSE FSS opened at $35.65 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.56 and a debt ratio of 0.42. The company has a fifty-day moving average of $34.75 and a two-hundred-day moving average of $36.14. The company has a market capitalization of $2.16 billion, a price-earnings ratio of 22.28 and a beta of 0.92. Federal Signal Co. has a 52-week low of $31.86 and a 52-week high of $48.88.

Federal Signal (NYSE:FSS – Get Rating) last released quarterly earnings data on Monday, May 2. The conglomerate reported EPS of $0.34 for the quarter, beating the consensus estimate of $0.27 by $0.07. The company posted revenue of $330.20 million in the quarter, versus analyst estimates of $307.88 million. Federal Signal had a net margin of 7.82% and a return on equity of 13.74%. Equity research analysts expect Federal Signal Co. to post EPS of 1.93 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 3. Shareholders of record on Friday, May 20 received a dividend of $0.09 per share. This represents an annualized dividend of $0.36 and a yield of 1.01%. The ex-dividend date was Thursday, May 19. Federal Signal’s payout ratio is 22.50%.

A number of research analysts have weighed in on FSS shares recently. KeyCorp cut its price target on Federal Signal shares from $48.00 to $44.00 and set an “overweight” rating for the company in a Friday, March 18 report. Raymond James cut his price target on Federal Signal shares from $46.00 to $45.00 and set a “Strong Buy” rating for the company in a Tuesday, April 26 report. Finally, StockNews.com began covering Federal Signal stocks in a Thursday, March 31 report. They issued a “holding” rating for the company. Two research analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a high buy rating. According to data from MarketBeat.com, Federal Signal currently has an average rating of “Moderate Buy” and an average price target of $46.50.

Federal Signals Profile (Get an evaluation)

Federal Signal Corp. engages in the design and manufacture of integrated products and solutions for municipal, government, industrial and commercial customers. It operates through the segments of Environmental Solutions Group and Safety and Security Systems Group. The Environment Solutions Group segment is involved in the manufacture and supply of road sweepers, sewer cleaners, vacuum trucks, hydro excavation trucks and wet stripping equipment.

Further reading

Want to see which other hedge funds hold FSS? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Federal Signal Co. (NYSE:FSS – Get Rating).

Institutional ownership by quarter for Federal Signal (NYSE:FSS)



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