Brandywine Global Investment Management LLC Cuts Stake in Federal Signal Corporation (FSS)
Brandywine Global Investment Management LLC lowered its position in shares of Federal Signal Corporation (NYSE:FSS) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 413,203 shares of the conglomerate’s stock after selling 64,017 shares during the period. Brandywine Global Investment Management LLC owned about 0.69% of Federal Signal Corporation worth $7,174,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in FSS. IFP Advisors Inc raised its holdings in shares of Federal Signal Corporation by 12,320.0% in the second quarter. IFP Advisors Inc now owns 6,831 shares of the conglomerate’s stock valued at $119,000 after acquiring an additional 6,776 shares in the last quarter. Pinebridge Investments L.P. increased its position in Federal Signal Corporation by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 86 shares during the period. Karp Capital Management Corp purchased a new position in Federal Signal Corporation during the 1st quarter valued at about $162,000. BNP Paribas Arbitrage SA increased its position in Federal Signal Corporation by 7.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,646 shares of the conglomerate’s stock valued at $175,000 after purchasing an additional 915 shares during the period. Finally, Mason Street Advisors LLC increased its position in Federal Signal Corporation by 6.7% during the 1st quarter. Mason Street Advisors LLC now owns 13,965 shares of the conglomerate’s stock valued at $193,000 after purchasing an additional 875 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.
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Shares of Federal Signal Corporation (FSS) opened at 21.86 on Wednesday. The firm has a market cap of $1.31 billion, a P/E ratio of 33.37 and a beta of 1.38. Federal Signal Corporation has a 12-month low of $11.68 and a 12-month high of $21.94. The company’s 50 day moving average price is $19.35 and its 200-day moving average price is $17.01.
Federal Signal Corporation (NYSE:FSS) last released its quarterly earnings results on Tuesday, August 8th. The conglomerate reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Federal Signal Corporation had a net margin of 5.20% and a return on equity of 10.59%. The firm had revenue of $224.40 million during the quarter, compared to the consensus estimate of $206.53 million. During the same quarter in the prior year, the firm earned $0.17 EPS. Federal Signal Corporation’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts anticipate that Federal Signal Corporation will post $0.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, August 11th. Federal Signal Corporation’s dividend payout ratio (DPR) is presently 42.42%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Federal Signal Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, August 31st. BidaskClub raised Federal Signal Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Four analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $21.50.
Federal Signal Corporation Profile
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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