Federal Signal Corporation $FSS Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of Federal Signal Corporation (NYSE:FSS) by 24.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,099,592 shares of the conglomerate’s stock after purchasing an additional 214,954 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Federal Signal were worth $121,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FSS. Bank of America Corp DE bought a new stake in shares of Federal Signal during the second quarter valued at approximately $78,503,000. First Trust Advisors LP lifted its position in Federal Signal by 12.0% in the 1st quarter. First Trust Advisors LP now owns 1,161,865 shares of the conglomerate’s stock valued at $125,644,000 after acquiring an additional 124,270 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Federal Signal in the 2nd quarter valued at approximately $2,660,000. Deutsche Bank AG purchased a new stake in Federal Signal during the 2nd quarter valued at $9,602,000. Finally, Emerald Investment Advisers LLC purchased a new stake in Federal Signal during the 2nd quarter valued at $8,277,000. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on FSS shares. DA Davidson reduced their target price on Federal Signal from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. Wall Street Zen downgraded Federal Signal from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research downgraded Federal Signal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Weiss Ratings raised Federal Signal from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Citigroup dropped their target price on shares of Federal Signal from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.25.

Federal Signal Stock Performance

FSS opened at $113.15 on Monday. Federal Signal Corporation has a 1-year low of $101.18 and a 1-year high of $134.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.96 and a quick ratio of 1.35. The firm has a market cap of $6.90 billion, a P/E ratio of 23.48, a PEG ratio of 1.35 and a beta of 1.22. The company has a 50 day simple moving average of $114.79 and a two-hundred day simple moving average of $115.71.

Federal Signal (NYSE:FSS) last posted its quarterly earnings results on Thursday, October 29th. The conglomerate reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. Federal Signal had a return on equity of 21.31% and a net margin of 11.65%. The business had revenue of $655.50 million for the quarter, compared to analysts’ expectations of $661.61 million. During the same period last year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that Federal Signal Corporation will post 5.24 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.5%. Federal Signal’s dividend payout ratio (DPR) is currently 12.45%.

About Federal Signal

Federal Signal Corporation designs and manufactures products and equipment for environmental services, public safety and security. Its customers include municipalities, contractors, industrial businesses and public safety organizations.

Through its Environmental Solutions Group, the company makes street sweepers, sewer cleaners, industrial vacuum loaders, waterblasting equipment and related vehicles and services. Its Safety and Security Systems Group provides warning sirens, emergency vehicle equipment and systems for public notification and communication.

Founded in 1901, Federal Signal serves customers in North America and international markets.