GSA Capital Partners LLP Purchases Shares of 11,913 Federal Signal Corporation (NYSE:FSS)

Key Points

• GSA Capital Partners LLP invested approximately $876,000 in Federal Signal Corporation during the first quarter, acquiring nearly 12,000 shares of the company.
• Federal Signal reported a quarterly EPS of $1.17, exceeding analysts' estimates and showcasing a year-over-year revenue increase of 15.1%.
• The company's board has initiated a $150 million share repurchase plan, indicating confidence in the stock's valuation and future performance.

GSA Capital Partners LLP purchased a new position in Federal Signal Corporation (NYSE:FSS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,913 shares of the conglomerate's stock, valued at approximately $876,000.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its position in shares of Federal Signal by 14.3% during the 1st quarter. Federated Hermes Inc. now owns 45,390 shares of the conglomerate's stock valued at $3,338,000 after acquiring an additional 5,696 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Federal Signal by 12.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the conglomerate's stock valued at $1,308,000 after purchasing an additional 1,964 shares during the last quarter. HB Wealth Management LLC grew its position in Federal Signal by 17.9% during the first quarter. HB Wealth Management LLC now owns 5,141 shares of the conglomerate's stock worth $378,000 after buying an additional 782 shares in the last quarter. Van Berkom & Associates Inc. grew its position in Federal Signal by 2.0% during the first quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate's stock worth $76,901,000 after buying an additional 20,771 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Federal Signal during the first quarter worth about $558,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Price Performance

Federal Signal stock traded up $0.15 during mid-day trading on Tuesday, reaching $124.75. The company had a trading volume of 193,732 shares, compared to its average volume of 582,755. Federal Signal Corporation has a fifty-two week low of $66.47 and a fifty-two week high of $128.50. The company has a current ratio of 2.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. The company has a market cap of $7.58 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.18 and a beta of 1.30. The business has a fifty day simple moving average of $105.18 and a 200 day simple moving average of $92.41.

Federal Signal (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.11. Federal Signal had a net margin of 11.22% and a return on equity of 18.91%. The business had revenue of $564.60 million during the quarter, compared to the consensus estimate of $537.24 million. During the same quarter last year, the firm earned $0.95 earnings per share. Federal Signal's quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Friday, August 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.4%. Federal Signal's payout ratio is 15.60%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson lifted their target price on shares of Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. CJS Securities cut shares of Federal Signal from a "strong-buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a research report on Thursday, July 31st. Raymond James Financial upped their target price on shares of Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Federal Signal currently has a consensus rating of "Hold" and an average price target of $123.00.

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.