Federal Signal Corporation (NYSE:FSS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,902 shares of the conglomerate's stock after selling 34,271 shares during the period. Bank of New York Mellon Corp owned 0.77% of Federal Signal worth $34,414,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in Federal Signal during the 1st quarter valued at about $29,000. Bessemer Group Inc. increased its position in Federal Signal by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 185 shares during the period. Signaturefd LLC increased its position in Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 165 shares during the period. Harbor Investment Advisory LLC increased its position in Federal Signal by 201.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock valued at $48,000 after purchasing an additional 440 shares during the period. Finally, CoreCap Advisors LLC increased its position in Federal Signal by 19.9% during the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.

Wall Street Analyst Weigh In

FSS has been the topic of a number of recent analyst reports. Raymond James Financial set a $120.00 price target on shares of Federal Signal and gave the company an "outperform" rating in a report on Monday, June 30th. DA Davidson raised their price target on shares of Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, KeyCorp restated a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th.

Federal Signal Stock Down 0.2%

Shares of NYSE:FSS traded down $0.19 during trading on Friday, reaching $106.99. The stock had a trading volume of 60,915 shares, compared to its average volume of 541,969. Federal Signal Corporation has a one year low of $66.47 and a one year high of $114.40. The company has a market capitalization of $6.52 billion, a P/E ratio of 31.33, a PEG ratio of 1.98 and a beta of 1.27. 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's 50-day simple moving average is $100.72 and its 200 day simple moving average is $90.94.

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

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, May 16th. Federal Signal's dividend payout ratio is presently 16.37%.

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

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.