Edgestream Partners L.P. Sells 80,335 Shares of Federal Signal Corporation (NYSE:FSS)

Edgestream Partners L.P. cut its stake in Federal Signal Corporation (NYSE:FSS - Free Report) by 85.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,742 shares of the conglomerate's stock after selling 80,335 shares during the period. Edgestream Partners L.P.'s holdings in Federal Signal were worth $1,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FSS. Swiss National Bank increased its stake in shares of Federal Signal by 0.8% in the 4th quarter. Swiss National Bank now owns 120,200 shares of the conglomerate's stock valued at $11,105,000 after purchasing an additional 900 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Federal Signal by 30.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,911 shares of the conglomerate's stock valued at $361,000 after purchasing an additional 923 shares during the last quarter. Cibc World Markets Corp bought a new stake in Federal Signal during the 4th quarter worth $520,000. Signaturefd LLC grew its position in Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after acquiring an additional 165 shares during the last quarter. Finally, Xponance Inc. grew its position in Federal Signal by 9.7% during the 4th quarter. Xponance Inc. now owns 4,314 shares of the conglomerate's stock worth $399,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Federal Signal Trading Up 0.9%

Shares of NYSE FSS traded up $0.96 during trading on Friday, reaching $108.14. The company had a trading volume of 1,023,342 shares, compared to its average volume of 471,012. The stock has a market cap of $6.59 billion, a P/E ratio of 31.62, a PEG ratio of 2.02 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 2.39 and a debt-to-equity ratio of 0.22. The company's fifty day moving average price is $101.45 and its 200-day moving average price is $91.16. Federal Signal Corporation has a 12 month low of $66.47 and a 12 month high of $114.40.

Federal Signal (NYSE:FSS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 18.44% and a net margin of 11.10%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. As a group, research analysts expect that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

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

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

Wall Street Analysts Forecast Growth

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

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.