Legal & General Group Plc Has $2.85 Million Position in Federal Signal Co. (FSS)
Legal & General Group Plc increased its holdings in Federal Signal Co. (NYSE:FSS) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,623 shares of the conglomerate’s stock after buying an additional 1,035 shares during the period. Legal & General Group Plc owned 0.24% of Federal Signal worth $2,846,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FSS. Stone Ridge Asset Management LLC boosted its holdings in Federal Signal by 49.3% in the 4th quarter. Stone Ridge Asset Management LLC now owns 40,175 shares of the conglomerate’s stock valued at $799,000 after purchasing an additional 13,260 shares during the period. Bank of New York Mellon Corp boosted its holdings in Federal Signal by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 846,360 shares of the conglomerate’s stock valued at $22,666,000 after purchasing an additional 36,575 shares during the period. Verition Fund Management LLC bought a new position in Federal Signal in the 3rd quarter valued at $358,000. Algert Global LLC boosted its holdings in Federal Signal by 2.3% in the 4th quarter. Algert Global LLC now owns 137,673 shares of the conglomerate’s stock valued at $2,740,000 after purchasing an additional 3,044 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in Federal Signal by 25.8% in the 3rd quarter. Macquarie Group Ltd. now owns 2,215,001 shares of the conglomerate’s stock valued at $59,318,000 after purchasing an additional 454,690 shares during the period. 89.80% of the stock is owned by institutional investors.
In other Federal Signal news, Director Dennis J. Martin sold 60,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $24.87, for a total value of $1,492,200.00. Following the completion of the transaction, the director now directly owns 250,080 shares of the company’s stock, valued at approximately $6,219,489.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.
Federal Signal (NYSE:FSS) last announced its quarterly earnings results on Thursday, February 28th. The conglomerate reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.07. Federal Signal had a net margin of 8.63% and a return on equity of 17.44%. The firm had revenue of $279.40 million during the quarter, compared to the consensus estimate of $268.10 million. During the same period last year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Federal Signal Co. will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, March 15th. Federal Signal’s payout ratio is 22.38%.
Separately, Zacks Investment Research raised shares of Federal Signal from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Monday, March 4th.
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Federal Signal Profile
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.
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