State of Alaska Department of Revenue Sells 827 Shares of Federal Signal Corporation (NYSE:FSS)

State of Alaska Department of Revenue decreased its position in shares of Federal Signal Corporation (NYSE:FSS) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,859 shares of the conglomerate’s stock after selling 827 shares during the period. State of Alaska Department of Revenue’s holdings in Federal Signal were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. California Public Employees Retirement System grew its holdings in Federal Signal by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate’s stock worth $8,283,000 after acquiring an additional 514 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Federal Signal by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate’s stock valued at $72,112,000 after buying an additional 11,466 shares in the last quarter. 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 valued at $20,247,000 after buying an additional 100,135 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Federal Signal in the 4th quarter valued at about $36,636,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Federal Signal by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 502,173 shares of the conglomerate’s stock valued at $46,396,000 after buying an additional 36,616 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on FSS shares. KeyCorp raised shares of Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 price objective for the company in a research report on Monday, May 12th. Wall Street Zen lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Raymond James Financial decreased their price objective on shares of Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, DA Davidson increased their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, May 5th.

Federal Signal Stock Performance

FSS opened at $101.05 on Monday. Federal Signal Corporation has a 12-month low of $66.47 and a 12-month high of $103.50. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $6.16 billion, a PE ratio of 29.55, a P/E/G ratio of 1.89 and a beta of 1.26. The firm has a 50 day moving average of $90.06 and a two-hundred day moving average of $89.20.

Federal Signal (NYSE:FSS) last posted its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The firm had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, analysts anticipate that Federal Signal Corporation will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal’s dividend payout ratio (DPR) is 16.37%.

Federal Signal announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

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.