Vest Financial LLC Purchases Shares of 19,529 Federal Signal Co. (NYSE:FSS)

Vest Financial LLC purchased a new stake in shares of Federal Signal Co. (NYSE:FSS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 19,529 shares of the conglomerate's stock, valued at approximately $1,436,000.

Other large investors have also modified their holdings of the company. California Public Employees Retirement System boosted its stake in shares of Federal Signal by 0.6% during the 4th quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate's stock worth $8,283,000 after acquiring an additional 514 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 11,466 shares in the last quarter. Victory Capital Management Inc. raised its holdings 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 acquiring an additional 100,135 shares in the last quarter. Raymond James Financial Inc. bought a new position in Federal Signal during the fourth quarter valued at about $36,636,000. Finally, Bank of New York Mellon Corp raised its holdings in Federal Signal by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 502,173 shares of the conglomerate's stock valued at $46,396,000 after buying an additional 36,616 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FSS shares. DA Davidson raised their price target on Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen downgraded Federal Signal from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. Raymond James cut their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp upgraded shares of Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price objective for the company in a research report on Monday, May 12th.

Federal Signal Stock Performance

Shares of Federal Signal stock opened at $99.38 on Friday. The firm has a fifty day moving average of $84.54 and a two-hundred day moving average of $89.04. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.85 and a beta of 1.26. Federal Signal Co. has a 52 week low of $66.47 and a 52 week high of $102.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83.

Federal Signal (NYSE:FSS - Get Free Report) last announced 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 net margin of 11.57% and a return on equity of 18.46%. The company had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. During the same quarter in the previous year, the business earned $0.64 EPS. The firm's revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal's dividend payout ratio (DPR) is presently 16.37%.

Federal Signal declared that its board has initiated a share buyback program on Tuesday, April 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback 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.

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