Renaissance Technologies LLC Decreases Holdings in Federal Signal Co. (NYSE:FSS)

Renaissance Technologies LLC lowered its stake in shares of Federal Signal Co. (NYSE:FSS - Free Report) by 25.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,100 shares of the conglomerate's stock after selling 9,000 shares during the quarter. Renaissance Technologies LLC's holdings in Federal Signal were worth $2,411,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FSS. Wilmington Savings Fund Society FSB acquired a new stake in Federal Signal in the third quarter valued at approximately $46,000. Signaturefd LLC increased its holdings in shares of Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 165 shares in the last quarter. Mather Group LLC. boosted its stake in Federal Signal by 20.1% in the fourth quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Federal Signal by 15.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock worth $124,000 after purchasing an additional 181 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Federal Signal by 182.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the conglomerate's stock valued at $127,000 after acquiring an additional 891 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Trading Up 4.1 %

Shares of FSS traded up $3.34 during trading hours on Thursday, reaching $84.77. 132,773 shares of the company traded hands, compared to its average volume of 426,158. The company's fifty day moving average price is $77.20 and its two-hundred day moving average price is $88.15. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. Federal Signal Co. has a 12 month low of $66.47 and a 12 month high of $102.18.

Federal Signal (NYSE:FSS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $462.63 million. During the same period last year, the business posted $0.64 EPS. The company's revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 22nd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid 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 dividend yield of 0.66%. Federal Signal's dividend payout ratio is presently 15.95%.

Insider Activity

In other news, CEO Jennifer L. Sherman purchased 1,250 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the transaction, the chief executive officer now owns 559,183 shares in the company, valued at $46,031,944.56. This represents a 0.22 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

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

Federal Signal Profile

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.