Goldman Sachs Group Inc. Raises Stake in Federal Signal Co. (NYSE:FSS)

Goldman Sachs Group Inc. increased its holdings in Federal Signal Co. (NYSE:FSS) by 8.4% in the fourth quarter, Holdings Channel reports. The fund owned 414,474 shares of the conglomerate’s stock after purchasing an additional 32,227 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Federal Signal were worth $31,807,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Federal Signal by 3.3% in the third quarter. Vanguard Group Inc. now owns 6,618,609 shares of the conglomerate’s stock worth $395,330,000 after acquiring an additional 209,965 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Federal Signal by 2.4% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,350,214 shares of the conglomerate’s stock worth $103,615,000 after acquiring an additional 31,807 shares during the period. Invesco Ltd. lifted its stake in Federal Signal by 156.3% in the third quarter. Invesco Ltd. now owns 945,571 shares of the conglomerate’s stock worth $56,479,000 after acquiring an additional 576,643 shares during the period. Norges Bank purchased a new stake in Federal Signal in the fourth quarter worth about $52,130,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Federal Signal by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 649,953 shares of the conglomerate’s stock worth $49,877,000 after acquiring an additional 9,688 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Federal Signal Stock Performance

Shares of Federal Signal stock opened at $84.34 on Friday. The company has a market capitalization of $5.15 billion, a PE ratio of 28.49 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 2.82. The company has a 50-day simple moving average of $85.10 and a two-hundred day simple moving average of $80.80. Federal Signal Co. has a one year low of $56.37 and a one year high of $92.90.

Federal Signal (NYSE:FSS) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $424.90 million during the quarter, compared to the consensus estimate of $425.58 million. Federal Signal had a net margin of 10.31% and a return on equity of 17.36%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 earnings per share. Research analysts expect that Federal Signal Co. will post 3.08 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Federal Signal’s dividend payout ratio (DPR) is currently 16.22%.

Analysts Set New Price Targets

Separately, William Blair assumed coverage on shares of Federal Signal in a research note on Friday, May 31st. They issued an “outperform” rating for the company.

Federal Signal 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.