Cubist Systematic Strategies LLC Lowers Holdings in Federal Signal Co. (NYSE:FSS)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Federal Signal Co. (NYSE:FSS - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,907 shares of the conglomerate's stock after selling 92,932 shares during the quarter. Cubist Systematic Strategies LLC owned 0.11% of Federal Signal worth $5,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSS. Vanguard Group Inc. grew its stake in 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 during the last quarter. Invesco Ltd. grew its stake in Federal Signal by 12.4% during the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate's stock valued at $203,184,000 after purchasing an additional 242,840 shares during the last quarter. Geode Capital Management LLC grew its stake in Federal Signal by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate's stock valued at $150,715,000 after purchasing an additional 29,197 shares during the last quarter. FMR LLC grew its stake in Federal Signal by 19.4% during the 4th quarter. FMR LLC now owns 1,469,614 shares of the conglomerate's stock valued at $135,778,000 after purchasing an additional 238,608 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Federal Signal by 56.5% during the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate's stock valued at $82,609,000 after purchasing an additional 322,676 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Federal Signal Price Performance

NYSE FSS traded down $0.11 during trading hours on Wednesday, reaching $94.29. The company's stock had a trading volume of 100,428 shares, compared to its average volume of 571,402. The company's 50-day moving average is $78.30 and its two-hundred day moving average is $88.13. Federal Signal Co. has a 1-year low of $66.47 and a 1-year high of $102.18. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.85 and a beta of 1.23. 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 (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business had revenue of $463.80 million during the quarter, compared to analysts' expectations of $462.63 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business's revenue was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.

Federal Signal announced that its board has initiated a share repurchase plan on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the conglomerate to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FSS. KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target on the stock in a research note on Monday. Raymond James decreased their price objective on 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 cut Federal Signal from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. Finally, DA Davidson boosted their price objective on Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Insider Activity

In related news, CEO Jennifer L. Sherman purchased 1,250 shares of the company's stock in a transaction dated Friday, February 28th. The stock was acquired 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 of the company's stock, valued at approximately $46,031,944.56. This trade represents a 0.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.30% 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.