Raymond James Financial Inc. Invests $36.64 Million in Federal Signal Co. (NYSE:FSS)

Raymond James Financial Inc. bought a new position in Federal Signal Co. (NYSE:FSS) in the 4th quarter, HoldingsChannel.com reports. The firm bought 396,533 shares of the conglomerate’s stock, valued at approximately $36,636,000.

Several other institutional investors have also recently made changes to their positions in FSS. ArrowMark Colorado Holdings LLC purchased a new position in shares of Federal Signal in the 3rd quarter worth about $28,863,000. Geode Capital Management LLC boosted its holdings in shares of Federal Signal by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,601,774 shares of the conglomerate’s stock worth $149,727,000 after buying an additional 239,789 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Federal Signal by 26.7% in the 3rd quarter. Franklin Resources Inc. now owns 638,253 shares of the conglomerate’s stock worth $59,523,000 after buying an additional 134,457 shares during the last quarter. Barclays PLC boosted its holdings in shares of Federal Signal by 338.7% in the 3rd quarter. Barclays PLC now owns 145,188 shares of the conglomerate’s stock worth $13,569,000 after buying an additional 112,092 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Federal Signal by 84.1% in the 4th quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate’s stock worth $20,247,000 after buying an additional 100,135 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Federal Signal Price Performance

NYSE FSS opened at $75.39 on Friday. The company has a market cap of $4.61 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.85 and a beta of 1.03. Federal Signal Co. has a 52 week low of $75.20 and a 52 week high of $102.18. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $92.60 and its two-hundred day simple moving average is $91.82.

Federal Signal (NYSE:FSS) last released its quarterly earnings data on Wednesday, February 26th. The conglomerate reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The business had revenue of $472.00 million for the quarter, compared to the consensus estimate of $481.90 million. Research analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current year.

Federal Signal Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Federal Signal’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. Federal Signal’s dividend payout ratio is currently 15.95%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Raymond James reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Federal Signal in a report on Tuesday, December 24th.

Insider Activity

In related news, CEO Jennifer L. Sherman purchased 1,250 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the transaction, the chief executive officer now directly owns 559,183 shares in the company, valued at approximately $46,031,944.56. This represents a 0.22 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

Federal Signal Profile

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.