Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Federal Signal Corporation (NYSE:FSS – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 52,632 shares of the conglomerate’s stock, valued at approximately $6,763,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Globeflex Capital L P purchased a new stake in Federal Signal in the 2nd quarter worth $1,462,000. Compass Financial Management LLC purchased a new position in shares of Federal Signal during the second quarter valued at about $51,000. Commerce Bank purchased a new position in shares of Federal Signal during the second quarter valued at about $944,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Federal Signal in the second quarter worth about $53,000. Finally, Quantbot Technologies LP bought a new stake in shares of Federal Signal in the second quarter worth about $1,305,000. 92.73% of the stock is currently owned by institutional investors.
Federal Signal Stock Up 0.4%
Shares of NYSE FSS opened at $121.13 on Thursday. The company has a current ratio of 2.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30. Federal Signal Corporation has a 12-month low of $101.18 and a 12-month high of $134.51. The firm’s 50-day moving average price is $122.55 and its 200-day moving average price is $116.44. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.65 and a beta of 1.24.
Federal Signal Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Friday, August 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 14th. Federal Signal’s dividend payout ratio (DPR) is presently 12.93%.
Wall Street Analyst Weigh In
FSS has been the subject of a number of research reports. KeyCorp reissued an “overweight” rating and set a $140.00 price target on shares of Federal Signal in a research note on Thursday, April 30th. Wall Street Zen downgraded Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. DA Davidson increased their target price on Federal Signal from $125.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Zacks Research downgraded Federal Signal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Federal Signal from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.50.
Read Our Latest Stock Analysis on FSS
Insider Activity at Federal Signal
In other news, VP Diane Bonina sold 14,856 shares of Federal Signal stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $130.44, for a total value of $1,937,816.64. Following the completion of the transaction, the vice president owned 15,689 shares in the company, valued at approximately $2,046,473.16. The trade was a 48.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.
Federal Signal Profile
Federal Signal Corporation (NYSE: FSS), headquartered in Oak Brook, Illinois, is a diversified industrial company that designs, manufactures and markets a broad range of products and services for municipal, commercial and industrial customers worldwide. Founded in 1901 in Chicago, the company has grown through a combination of organic investment and strategic acquisitions to become a leading provider of environmental management and safety and security solutions.
Federal Signal operates through two primary business segments.
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