Hsbc Holdings PLC Sells 28,388 Shares of Federal Signal Co. (NYSE:FSS)

Hsbc Holdings PLC reduced its holdings in shares of Federal Signal Co. (NYSE:FSS - Free Report) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,711 shares of the conglomerate's stock after selling 28,388 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Federal Signal worth $3,676,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FSS. Mather Group LLC. lifted its holdings in shares of Federal Signal by 20.1% in the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock worth $82,000 after purchasing an additional 149 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Federal Signal by 0.9% in the fourth quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate's stock valued at $1,640,000 after buying an additional 152 shares during the period. Albion Financial Group UT boosted its position in shares of Federal Signal by 1.3% during the 4th quarter. Albion Financial Group UT now owns 12,126 shares of the conglomerate's stock valued at $1,120,000 after purchasing an additional 153 shares in the last quarter. Signaturefd LLC boosted its holdings in Federal Signal by 37.4% during the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after buying an additional 165 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Federal Signal by 15.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after acquiring an additional 181 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Federal Signal

In related news, CEO Jennifer L. Sherman acquired 1,250 shares of the business's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $82.32 per share, with a total value of $102,900.00. Following the completion of the acquisition, the chief executive officer now owns 559,183 shares in the company, valued at $46,031,944.56. The trade was a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.30% of the company's stock.

Federal Signal Stock Performance

FSS stock traded up $2.27 during midday trading on Friday, hitting $86.51. 923,717 shares of the company traded hands, compared to its average volume of 431,150. Federal Signal Co. has a twelve month low of $66.47 and a twelve month high of $102.18. The business has a 50 day simple moving average of $77.06 and a 200-day simple moving average of $88.09. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11.

Federal Signal (NYSE:FSS - Get Free Report) last released its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. During the same quarter last year, the firm posted $0.64 EPS. The company'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 earnings per share for the current year.

Federal Signal announced that its board has authorized a stock 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Federal Signal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, May 16th. Federal Signal's dividend payout ratio is presently 15.95%.

Analysts Set New Price Targets

FSS has been the topic of several research analyst reports. StockNews.com cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. Raymond James reduced their price target on Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, April 14th.

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.