Morse Asset Management Inc Acquires New Shares in Federal Signal Co. (NYSE:FSS)

Morse Asset Management Inc acquired a new stake in Federal Signal Co. (NYSE:FSS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,695 shares of the conglomerate’s stock, valued at approximately $653,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FSS. Norges Bank bought a new stake in Federal Signal in the fourth quarter valued at about $52,130,000. Assenagon Asset Management S.A. increased its holdings in shares of Federal Signal by 946.5% in the first quarter. Assenagon Asset Management S.A. now owns 322,088 shares of the conglomerate’s stock worth $27,336,000 after acquiring an additional 291,309 shares in the last quarter. Axiom Investors LLC DE increased its holdings in shares of Federal Signal by 189.5% in the fourth quarter. Axiom Investors LLC DE now owns 239,455 shares of the conglomerate’s stock worth $18,376,000 after acquiring an additional 156,755 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Federal Signal by 46.0% in the fourth quarter. Eagle Asset Management Inc. now owns 361,580 shares of the conglomerate’s stock worth $27,748,000 after acquiring an additional 113,955 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Federal Signal by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,786,204 shares of the conglomerate’s stock worth $575,945,000 after acquiring an additional 106,899 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Federal Signal Trading Up 3.0 %

Shares of Federal Signal stock traded up $2.92 during trading hours on Friday, hitting $99.30. The company’s stock had a trading volume of 482,709 shares, compared to its average volume of 360,138. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 1.29. The company has a market capitalization of $6.07 billion, a PE ratio of 33.55 and a beta of 0.95. The stock has a 50 day moving average of $87.58 and a 200 day moving average of $83.35. Federal Signal Co. has a 12 month low of $56.37 and a 12 month high of $100.90.

Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, July 25th. The conglomerate reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.11. The company had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $487.74 million. Federal Signal had a return on equity of 18.31% and a net margin of 11.16%. Federal Signal’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. Analysts predict that Federal Signal Co. will post 3.3 earnings per share for the current year.

Federal Signal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.48%. Federal Signal’s dividend payout ratio is currently 16.22%.

Analyst Upgrades and Downgrades

Separately, William Blair assumed coverage on Federal Signal in a report on Friday, May 31st. They issued an “outperform” rating for the company.

Federal Signal Company 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.