Accurate Wealth Management LLC Invests $1.09 Million in Federal Signal Co. (NYSE:FSS)

Accurate Wealth Management LLC acquired a new stake in shares of Federal Signal Co. (NYSE:FSS) during the first quarter, HoldingsChannel reports. The firm acquired 14,223 shares of the conglomerate’s stock, valued at approximately $1,085,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital World Investors acquired a new position in Federal Signal during the 4th quarter valued at about $79,810,000. Norges Bank acquired a new position in shares of Federal Signal during the fourth quarter valued at approximately $78,192,000. Raymond James Financial Inc. bought a new stake in Federal Signal during the fourth quarter worth approximately $36,636,000. First Trust Advisors LP lifted its position in Federal Signal by 56.5% in the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock worth $82,609,000 after purchasing an additional 322,676 shares during the period. Finally, Invesco Ltd. lifted its position in Federal Signal by 12.4% in the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock worth $203,184,000 after purchasing an additional 242,840 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp upgraded Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 price target on the stock in a research report on Monday, May 12th. Raymond James decreased their target price on Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Wall Street Zen cut shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Finally, DA Davidson upped their price target on shares of Federal Signal from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, May 5th.

Federal Signal Trading Up 1.3%

Federal Signal stock opened at $100.56 on Tuesday. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. Federal Signal Co. has a 1 year low of $66.47 and a 1 year high of $102.18. The firm’s 50 day moving average price is $84.54 and its two-hundred day moving average price is $88.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83.

Federal Signal (NYSE:FSS) last announced its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The company had revenue of $463.80 million during the quarter, compared to analysts’ expectations of $462.63 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. On average, research analysts predict that Federal Signal Co. will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, May 16th. Federal Signal’s payout ratio is presently 16.37%.

Federal Signal declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 22nd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.