State of Tennessee Department of Treasury Has $2.79 Million Stock Holdings in Federal Signal Co. (NYSE:FSS)

State of Tennessee Department of Treasury reduced its stake in shares of Federal Signal Co. (NYSE:FSS) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,173 shares of the conglomerate’s stock after selling 513 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Federal Signal were worth $2,788,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Federal Signal by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 7,247,803 shares of the conglomerate’s stock valued at $669,625,000 after buying an additional 93,597 shares during the period. Invesco Ltd. increased its stake in Federal Signal by 12.4% in the fourth quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock valued at $203,184,000 after acquiring an additional 242,840 shares during the last quarter. Geode Capital Management LLC increased its stake in Federal Signal by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate’s stock valued at $150,715,000 after acquiring an additional 29,197 shares during the last quarter. FMR LLC raised its position in Federal Signal by 19.4% during the fourth quarter. FMR LLC now owns 1,469,614 shares of the conglomerate’s stock valued at $135,778,000 after purchasing an additional 238,608 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Federal Signal by 56.5% during the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock worth $82,609,000 after purchasing an additional 322,676 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FSS shares. StockNews.com cut Federal Signal from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. Raymond James lowered their target price on Federal Signal from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, April 14th.

Federal Signal Stock Down 2.0 %

Shares of FSS opened at $75.21 on Monday. Federal Signal Co. has a 52 week low of $66.47 and a 52 week high of $102.18. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.85 and a beta of 1.11. 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 stock has a fifty day moving average of $78.35 and a 200-day moving average of $88.40.

Federal Signal (NYSE:FSS) last issued its earnings results on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $472.00 million during the quarter, compared to analysts’ expectations of $481.90 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. As a group, sell-side analysts anticipate that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, May 16th. Federal Signal’s payout ratio is 15.95%.

Federal Signal announced that its board has approved a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Federal Signal

In other Federal Signal news, CEO Jennifer L. Sherman acquired 1,250 shares of Federal Signal stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $82.32 per share, with a total value of $102,900.00. Following the completion of the purchase, the chief executive officer now directly owns 559,183 shares in the company, valued at $46,031,944.56. This trade represents a 0.22 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.

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.