Bank of New York Mellon Corp Grows Position in Federal Signal Corporation $FSS

Bank of New York Mellon Corp lifted its position in shares of Federal Signal Corporation (NYSE:FSS) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 481,669 shares of the conglomerate’s stock after acquiring an additional 13,767 shares during the period. Bank of New York Mellon Corp’s holdings in Federal Signal were worth $51,259,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Van Berkom & Associates Inc. boosted its holdings in shares of Federal Signal by 2.0% during the 1st quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate’s stock valued at $76,901,000 after buying an additional 20,771 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Federal Signal by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 718,214 shares of the conglomerate’s stock worth $52,826,000 after acquiring an additional 2,057 shares in the last quarter. Nuveen LLC purchased a new stake in Federal Signal in the first quarter worth about $45,307,000. GW&K Investment Management LLC increased its stake in shares of Federal Signal by 0.7% during the first quarter. GW&K Investment Management LLC now owns 544,463 shares of the conglomerate’s stock valued at $40,045,000 after purchasing an additional 3,734 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Federal Signal by 63.0% during the first quarter. Millennium Management LLC now owns 503,120 shares of the conglomerate’s stock valued at $37,004,000 after purchasing an additional 194,412 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Insider Transactions at Federal Signal

In other Federal Signal news, COO Mark Weber sold 51,187 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $111.56, for a total value of $5,710,421.72. Following the transaction, the chief operating officer directly owned 73,874 shares of the company’s stock, valued at approximately $8,241,383.44. This trade represents a 40.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.30% of the company’s stock.

Federal Signal Stock Performance

Shares of NYSE FSS opened at $110.30 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.60 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $120.87 and its 200-day moving average price is $111.69. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $132.89. The company has a market cap of $6.71 billion, a PE ratio of 30.72, a PEG ratio of 2.31 and a beta of 1.28.

Federal Signal (NYSE:FSS) last posted its earnings results on Thursday, October 30th. The conglomerate reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.07. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $545.19 million. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Federal Signal has set its FY 2025 guidance at 4.090-4.170 EPS. As a group, analysts anticipate that Federal Signal Corporation will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Friday, November 14th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 0.5%. Federal Signal’s dividend payout ratio is currently 14.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSS. CJS Securities reissued a “market perform” rating and issued a $125.00 price target on shares of Federal Signal in a research report on Thursday, July 31st. Raymond James Financial lifted their price objective on Federal Signal from $120.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Wall Street Zen raised Federal Signal from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research downgraded Federal Signal from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Federal Signal in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Federal Signal has a consensus rating of “Hold” and a consensus price target of $123.00.

Federal Signal Company Profile

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.