Allspring Global Investments Holdings LLC Acquires 95,579 Shares of Federal Signal Corporation (NYSE:FSS)

Allspring Global Investments Holdings LLC raised its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 269.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,073 shares of the conglomerate's stock after buying an additional 95,579 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.21% of Federal Signal worth $9,640,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. CoreCap Advisors LLC increased its holdings in shares of Federal Signal by 19.9% in the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after buying an additional 145 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Federal Signal by 0.9% in the fourth quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate's stock valued at $1,640,000 after buying an additional 152 shares in the last quarter. Creative Financial Designs Inc. ADV increased its holdings in shares of Federal Signal by 16.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after buying an additional 162 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after buying an additional 165 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Federal Signal by 15.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock valued at $124,000 after buying an additional 181 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Federal Signal Stock Down 0.8%

NYSE:FSS traded down $0.84 during trading hours on Monday, hitting $109.95. 453,728 shares of the stock traded hands, compared to its average volume of 458,915. The firm has a 50 day moving average price of $96.46 and a 200 day moving average price of $89.96. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. Federal Signal Corporation has a fifty-two week low of $66.47 and a fifty-two week high of $111.08. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.07 and a beta of 1.27.

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

Federal Signal declared that its board has approved a stock repurchase plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the conglomerate to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Federal Signal Dividend Announcement

The business also recently declared 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 0.51%. The ex-dividend date was Friday, May 16th. Federal Signal's dividend payout ratio is currently 16.37%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. KeyCorp raised Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target on the stock in a report on Monday, May 12th. DA Davidson boosted their target price on shares of Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Finally, Raymond James Financial set a $120.00 target price on shares of Federal Signal and gave the company an "outperform" rating in a research note on Monday, June 30th.

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.