Federal Signal Corporation (NYSE:FSS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its holdings in Federal Signal Corporation (NYSE:FSS - Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,812 shares of the conglomerate's stock after selling 2,766 shares during the quarter. Maryland State Retirement & Pension System's holdings in Federal Signal were worth $1,310,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FSS. CoreCap Advisors LLC grew its stake in shares of Federal Signal by 19.9% in the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after buying an additional 145 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Federal Signal by 16.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after buying an additional 162 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Federal Signal by 78.4% in the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after buying an additional 185 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Federal Signal by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,292 shares of the conglomerate's stock valued at $581,000 after buying an additional 200 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of Federal Signal by 5.2% in the first quarter. Xponance Inc. now owns 4,540 shares of the conglomerate's stock valued at $334,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Federal Signal Stock Down 2.1%

Shares of NYSE:FSS traded down $2.66 on Friday, hitting $125.11. 47,465 shares of the company's stock were exchanged, compared to its average volume of 588,135. The firm's 50-day moving average is $110.82 and its 200 day moving average is $94.24. The company has a market capitalization of $7.61 billion, a PE ratio of 34.85, a P/E/G ratio of 2.31 and a beta of 1.30. Federal Signal Corporation has a 1-year low of $66.47 and a 1-year high of $130.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60.

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

Federal Signal declared that its board has initiated a stock buyback program on Tuesday, April 22nd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

Federal Signal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Friday, August 15th will be given 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 presently 15.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FSS shares. DA Davidson boosted their target price on Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. Raymond James Financial boosted their target price on Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen raised Federal Signal from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, CJS Securities reissued a "market perform" rating and set a $125.00 target price on shares of Federal Signal in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.