Two Sigma Investments LP Sells 80,435 Shares of Federal Signal Co. (NYSE:FSS)

Two Sigma Investments LP cut its holdings in Federal Signal Co. (NYSE:FSS - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,189 shares of the conglomerate's stock after selling 80,435 shares during the period. Two Sigma Investments LP owned about 0.12% of Federal Signal worth $6,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. California Public Employees Retirement System raised its stake in Federal Signal by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock valued at $8,283,000 after acquiring an additional 514 shares during the last quarter. Barclays PLC increased its holdings in Federal Signal by 338.7% during the 3rd quarter. Barclays PLC now owns 145,188 shares of the conglomerate's stock valued at $13,569,000 after acquiring an additional 112,092 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Federal Signal by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 780,513 shares of the conglomerate's stock valued at $72,112,000 after buying an additional 11,466 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Federal Signal by 84.1% in the fourth quarter. Victory Capital Management Inc. now owns 219,147 shares of the conglomerate's stock worth $20,247,000 after acquiring an additional 100,135 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Federal Signal during the 4th quarter worth about $36,636,000. Institutional investors and hedge funds own 92.73% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on FSS. Raymond James dropped their price target on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Wall Street Zen lowered Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective on the stock in a research note on Monday, May 12th. Finally, DA Davidson lifted their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Federal Signal Stock Performance

NYSE:FSS traded up $0.24 during mid-day trading on Friday, hitting $94.12. The stock had a trading volume of 37,326 shares, compared to its average volume of 436,677. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83. The company's 50 day simple moving average is $82.13 and its 200 day simple moving average is $88.79. Federal Signal Co. has a twelve month low of $66.47 and a twelve month high of $102.18.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The company had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. During the same quarter last year, the company posted $0.64 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that Federal Signal Co. will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.59%. Federal Signal's dividend payout ratio (DPR) is currently 16.37%.

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