Teacher Retirement System of Texas Sells 13,128 Shares of Federal Signal Corporation (NYSE:FSS)

Teacher Retirement System of Texas decreased its stake in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 15.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 72,303 shares of the conglomerate's stock after selling 13,128 shares during the period. Teacher Retirement System of Texas owned 0.12% of Federal Signal worth $5,318,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its position in shares of Federal Signal by 15.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after buying an additional 181 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Federal Signal by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate's stock worth $72,112,000 after purchasing an additional 11,466 shares during the period. Victory Capital Management Inc. grew its stake in shares of Federal Signal by 84.1% during the fourth quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate's stock worth $20,247,000 after purchasing an additional 100,135 shares during the period. Atria Investments Inc grew its stake in shares of Federal Signal by 5.0% during the fourth quarter. Atria Investments Inc now owns 9,259 shares of the conglomerate's stock worth $855,000 after purchasing an additional 439 shares during the period. Finally, Arizona State Retirement System grew its stake in 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 acquiring an additional 152 shares during the period. Institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FSS shares. Raymond James Financial set a $120.00 price target on Federal Signal and gave the company an "outperform" rating in a report on Monday, June 30th. DA Davidson upped their target price on Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Finally, 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 research report on Monday, May 12th.

Federal Signal Stock Performance

Shares of NYSE FSS traded up $1.03 during midday trading on Tuesday, reaching $111.05. The company's stock had a trading volume of 771,485 shares, compared to its average volume of 460,160. Federal Signal Corporation has a 12-month low of $66.47 and a 12-month high of $115.46. The firm has a 50 day moving average price of $97.16 and a 200-day moving average price of $90.09. The stock has a market capitalization of $6.77 billion, a P/E ratio of 32.47, a PEG ratio of 2.07 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 1.09.

Federal Signal (NYSE:FSS - Get Free Report) last issued its earnings results 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 business had revenue of $463.80 million for the quarter, compared to analysts' expectations of $462.63 million. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities analysts predict 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 $0.14 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.50%. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.

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

About Federal Signal

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.