Federal Signal Corporation (NYSE:FSS) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of Federal Signal Corporation (NYSE:FSS - Free Report) by 15.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,303 shares of the conglomerate's stock after selling 13,128 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of Federal Signal worth $5,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Federal Signal by 269.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 131,073 shares of the conglomerate's stock valued at $9,640,000 after acquiring an additional 95,579 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Federal Signal by 16.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after acquiring an additional 162 shares during the period. Bessemer Group Inc. boosted its stake in shares of Federal Signal by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after buying an additional 185 shares during the period. Moran Wealth Management LLC boosted its stake in shares of Federal Signal by 5.1% in the 1st quarter. Moran Wealth Management LLC now owns 47,037 shares of the conglomerate's stock valued at $3,460,000 after buying an additional 2,286 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Federal Signal by 21.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,641 shares of the conglomerate's stock valued at $1,150,000 after buying an additional 2,724 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson lifted their price objective on Federal Signal from $84.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Raymond James Financial set a $120.00 price objective on Federal Signal and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a research note on Monday, May 12th.

Federal Signal Stock Up 0.6%

FSS stock traded up $0.65 during trading on Thursday, hitting $113.15. 562,445 shares of the company's stock were exchanged, compared to its average volume of 540,445. The business has a 50-day moving average price of $98.49 and a two-hundred day moving average price of $90.39. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.07 and a beta of 1.27. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $114.40. 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 (NYSE:FSS - Get Free Report) last posted 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 firm had revenue of $463.80 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the business earned $0.64 earnings per share. As a group, equities research analysts expect that Federal Signal Corporation will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently declared 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 0.49%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is 16.37%.

Federal Signal declared that its board has approved a stock repurchase program on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is 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.