Millennium Management LLC Has $28.52 Million Holdings in Federal Signal Co. (NYSE:FSS)

Millennium Management LLC grew its position in Federal Signal Co. (NYSE:FSS) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 308,708 shares of the conglomerate’s stock after acquiring an additional 36,956 shares during the quarter. Millennium Management LLC’s holdings in Federal Signal were worth $28,522,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. CoreCap Advisors LLC increased its holdings in shares of Federal Signal by 19.9% during the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate’s stock valued at $81,000 after acquiring an additional 145 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Federal Signal by 20.1% during the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate’s stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Federal Signal by 0.9% during the 4th quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate’s stock valued at $1,640,000 after acquiring an additional 152 shares during the last quarter. Albion Financial Group UT increased its holdings in shares of Federal Signal by 1.3% during the 4th quarter. Albion Financial Group UT now owns 12,126 shares of the conglomerate’s stock valued at $1,120,000 after acquiring an additional 153 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock valued at $56,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Price Performance

Shares of NYSE:FSS opened at $95.90 on Tuesday. The business has a 50 day moving average price of $79.47 and a 200 day moving average price of $88.48. Federal Signal Co. has a twelve month low of $66.47 and a twelve month high of $102.18. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.85 and a beta of 1.23. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS) last announced its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current year.

Federal Signal announced that its Board of Directors has approved a share buyback program on Tuesday, April 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Federal Signal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.58%. Federal Signal’s dividend payout ratio is currently 16.37%.

Insiders Place Their Bets

In other news, CEO Jennifer L. Sherman acquired 1,250 shares of Federal Signal stock in a transaction on Friday, February 28th. The stock was bought at an average price of $82.32 per share, for a total transaction of $102,900.00. Following the transaction, the chief executive officer now owns 559,183 shares of the company’s stock, valued at $46,031,944.56. The trade was a 0.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FSS. StockNews.com lowered Federal Signal from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. KeyCorp raised Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 price objective on the stock in a report on Monday, May 12th. DA Davidson increased their target price on Federal Signal from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Raymond James decreased their target price on Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

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.