Vestcor Inc Invests $319,000 in Federal Signal Corporation (NYSE:FSS)

Key Points

• Vestcor Inc has invested approximately $319,000 in Federal Signal Corporation by acquiring 4,333 shares in the 1st quarter, as disclosed in its recent SEC filing.
• Federal Signal's recent earnings report exceeded analysts' expectations, with an EPS of $1.17 and revenue of $564.60 million, marking a 15.1% increase year-over-year.
• The company has approved a share buyback plan worth $150 million, allowing it to repurchase up to 3.3% of its outstanding shares, signaling confidence in its stock valuation.

Vestcor Inc acquired a new stake in shares of Federal Signal Corporation (NYSE:FSS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,333 shares of the conglomerate's stock, valued at approximately $319,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in Federal Signal in the 1st quarter worth $876,000. California Public Employees Retirement System increased its holdings in Federal Signal by 0.6% in 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. Oppenheimer Asset Management Inc. increased its holdings in Federal Signal by 21.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,641 shares of the conglomerate's stock worth $1,150,000 after acquiring an additional 2,724 shares in the last quarter. Bessemer Group Inc. increased its holdings in Federal Signal by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Federal Signal by 66.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the conglomerate's stock worth $814,000 after acquiring an additional 4,405 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Federal Signal Trading Up 0.9%

Shares of FSS traded up $1.08 during mid-day trading on Tuesday, reaching $125.68. The stock had a trading volume of 896,237 shares, compared to its average volume of 879,920. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.60 and a quick ratio of 1.25. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $128.50. The business's fifty day moving average is $106.43 and its 200 day moving average is $92.83. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 2.21 and a beta of 1.30.

Federal Signal (NYSE:FSS - Get Free Report) last posted its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 EPS for the quarter, beating 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 company had revenue of $564.60 million for the quarter, compared to analysts' expectations of $537.24 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. Federal Signal's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts predict that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal declared that its board has approved 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 reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Federal Signal Dividend Announcement

The business 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 $0.14 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. Federal Signal's dividend payout ratio is presently 15.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Raymond James Financial boosted their price target on shares of Federal Signal from $120.00 to $145.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Federal Signal from a "hold" rating to a "buy" rating in a report on Saturday. KeyCorp reaffirmed a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. DA Davidson upped their target price on shares of Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, CJS Securities lowered shares of Federal Signal from a "strong-buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a report on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.