PineStone Asset Management Inc. Increases Stake in Federal Signal Co. (NYSE:FSS)

PineStone Asset Management Inc. raised its holdings in shares of Federal Signal Co. (NYSE:FSS) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,884 shares of the conglomerate’s stock after acquiring an additional 20,800 shares during the quarter. PineStone Asset Management Inc. owned approximately 0.29% of Federal Signal worth $16,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FSS. ArrowMark Colorado Holdings LLC purchased a new position in Federal Signal during the third quarter valued at approximately $28,863,000. Geode Capital Management LLC lifted its stake in shares of Federal Signal by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,601,774 shares of the conglomerate’s stock valued at $149,727,000 after buying an additional 239,789 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Federal Signal by 113.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after buying an additional 211,555 shares during the period. Franklin Resources Inc. increased its stake in 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 in the last quarter. Finally, Barclays PLC raised its holdings in Federal Signal by 338.7% during the third quarter. Barclays PLC now owns 145,188 shares of the conglomerate’s stock valued at $13,569,000 after acquiring an additional 112,092 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com cut Federal Signal from a “buy” rating to a “hold” rating in a research report on Thursday. DA Davidson reduced their price objective on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Raymond James reissued an “outperform” rating and issued a $110.00 target price on shares of Federal Signal in a report on Tuesday, December 24th.

Federal Signal Stock Performance

NYSE:FSS opened at $96.97 on Friday. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 28.11 and a beta of 1.01. Federal Signal Co. has a 1 year low of $76.85 and a 1 year high of $102.18. The stock’s 50 day simple moving average is $95.87 and its two-hundred day simple moving average is $92.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36.

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.