Legal & General Group Plc bought a new position in Federal Signal Corporation (NYSE:FSS – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 138,565 shares of the conglomerate’s stock, valued at approximately $17,804,000. Legal & General Group Plc owned about 0.23% of Federal Signal at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Federal Signal by 3.5% in the 1st quarter. Royal Bank of Canada now owns 93,618 shares of the conglomerate’s stock worth $6,886,000 after acquiring an additional 3,153 shares during the last quarter. AQR Capital Management LLC boosted its stake in Federal Signal by 10.9% during the 1st quarter. AQR Capital Management LLC now owns 35,702 shares of the conglomerate’s stock valued at $2,626,000 after purchasing an additional 3,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Federal Signal by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,822 shares of the conglomerate’s stock worth $2,635,000 after purchasing an additional 1,594 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Federal Signal by 15.9% in the first quarter. NewEdge Advisors LLC now owns 1,838 shares of the conglomerate’s stock worth $135,000 after purchasing an additional 252 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Federal Signal in the first quarter worth $1,119,000. Institutional investors own 92.73% of the company’s stock.
Federal Signal Stock Performance
Shares of FSS opened at $118.37 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.74 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $122.57 and a two-hundred day simple moving average of $116.47. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.61 and a beta of 1.24. Federal Signal Corporation has a 52 week low of $101.18 and a 52 week high of $134.51.
Federal Signal Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Friday, August 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.60 annualized dividend and a yield of 0.5%. Federal Signal’s payout ratio is currently 12.93%.
Insider Buying and Selling at Federal Signal
In other news, VP Diane Bonina sold 14,856 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $130.44, for a total value of $1,937,816.64. Following the completion of the sale, the vice president directly owned 15,689 shares of the company’s stock, valued at $2,046,473.16. This represents a 48.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Zacks Research cut Federal Signal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Citigroup assumed coverage on shares of Federal Signal in a research note on Monday, August 17th. They set a “buy” rating and a $150.00 target price on the stock. Weiss Ratings raised shares of Federal Signal from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.50.
Read Our Latest Research Report on Federal Signal
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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