Charles Schwab Investment Management Inc. Buys 31,517 Shares of Federal Signal Co. (NYSE:FSS)

Charles Schwab Investment Management Inc. boosted its stake in Federal Signal Co. (NYSE:FSS) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,047 shares of the conglomerate’s stock after acquiring an additional 31,517 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Federal Signal were worth $71,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSS. Assenagon Asset Management S.A. lifted its holdings in shares of Federal Signal by 113.4% in the third quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock valued at $37,200,000 after purchasing an additional 211,555 shares in the last quarter. Millennium Management LLC lifted its stake in Federal Signal by 77.8% in the 2nd quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock valued at $37,298,000 after acquiring an additional 195,017 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in Federal Signal by 20.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock valued at $76,340,000 after acquiring an additional 153,765 shares in the last quarter. PineStone Asset Management Inc. acquired a new position in Federal Signal during the 2nd quarter worth approximately $11,982,000. Finally, F M Investments LLC bought a new position in shares of Federal Signal during the 2nd quarter worth approximately $11,058,000. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their price objective on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th.

Federal Signal Price Performance

Shares of NYSE FSS opened at $97.88 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. The business has a 50-day moving average of $90.53 and a 200-day moving average of $89.68. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 28.37 and a beta of 0.95. Federal Signal Co. has a fifty-two week low of $68.02 and a fifty-two week high of $102.18.

Federal Signal (NYSE:FSS) last posted its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm had revenue of $474.20 million during the quarter, compared to the consensus estimate of $481.71 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, November 15th. Federal Signal’s dividend payout ratio (DPR) is currently 13.91%.

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.