State of Tennessee Department of Treasury Has $2.79 Million Stake in Federal Signal Co. (NYSE:FSS)

State of Tennessee Department of Treasury reduced its holdings in shares of Federal Signal Co. (NYSE:FSS) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,173 shares of the conglomerate’s stock after selling 513 shares during the period. State of Tennessee Department of Treasury’s holdings in Federal Signal were worth $2,788,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FSS. Vanguard Group Inc. boosted its position in shares of Federal Signal by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 7,247,803 shares of the conglomerate’s stock valued at $669,625,000 after purchasing an additional 93,597 shares in the last quarter. Invesco Ltd. lifted its stake in Federal Signal by 12.4% in the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock valued at $203,184,000 after buying an additional 242,840 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Federal Signal by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate’s stock worth $150,715,000 after buying an additional 29,197 shares in the last quarter. FMR LLC grew its position in shares of Federal Signal by 19.4% during the 4th quarter. FMR LLC now owns 1,469,614 shares of the conglomerate’s stock worth $135,778,000 after buying an additional 238,608 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Federal Signal by 56.5% in the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock valued at $82,609,000 after acquiring an additional 322,676 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Federal Signal Stock Performance

NYSE FSS opened at $75.21 on Monday. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $78.35 and a 200 day simple moving average of $88.40. Federal Signal Co. has a 12-month low of $66.47 and a 12-month high of $102.18. The company has a market cap of $4.60 billion, a P/E ratio of 21.80, a PEG ratio of 1.85 and a beta of 1.11.

Federal Signal (NYSE:FSS) last posted its earnings results on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $472.00 million for the quarter, compared to analyst estimates of $481.90 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. Sell-side analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.74%. Federal Signal’s payout ratio is 15.95%.

Federal Signal announced that its Board of Directors has initiated a share buyback program on Tuesday, April 22nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Raymond James reduced their price target on shares of Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, April 14th. StockNews.com downgraded Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st.

Insider Buying and Selling

In other news, CEO Jennifer L. Sherman acquired 1,250 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $82.32 per share, with a total value of $102,900.00. Following the acquisition, the chief executive officer now directly owns 559,183 shares of the company’s stock, valued at $46,031,944.56. The trade was a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

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.