Arizona State Retirement System Reduces Stock Holdings in Federal Signal Co. (NYSE:FSS)

Arizona State Retirement System lowered its position in Federal Signal Co. (NYSE:FSS) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 17,050 shares of the conglomerate’s stock after selling 286 shares during the period. Arizona State Retirement System’s holdings in Federal Signal were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FSS. Invesco Ltd. grew its holdings in shares of Federal Signal by 156.3% in the third quarter. Invesco Ltd. now owns 945,571 shares of the conglomerate’s stock valued at $56,479,000 after purchasing an additional 576,643 shares during the period. Norges Bank purchased a new stake in shares of Federal Signal in the fourth quarter valued at about $25,846,000. Conestoga Capital Advisors LLC grew its holdings in shares of Federal Signal by 52.4% in the third quarter. Conestoga Capital Advisors LLC now owns 1,318,407 shares of the conglomerate’s stock valued at $78,748,000 after purchasing an additional 453,342 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Federal Signal by 12.2% in the first quarter. Macquarie Group Ltd. now owns 2,582,443 shares of the conglomerate’s stock valued at $139,994,000 after purchasing an additional 280,651 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in Federal Signal by 18.4% during the third quarter. Van Berkom & Associates Inc. now owns 1,549,215 shares of the conglomerate’s stock worth $92,535,000 after buying an additional 241,282 shares during the period. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Federal Signal Stock Performance

NYSE:FSS opened at $83.55 on Monday. The stock has a market capitalization of $5.10 billion, a P/E ratio of 32.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.36 and a current ratio of 2.91. Federal Signal Co. has a fifty-two week low of $49.82 and a fifty-two week high of $88.47. The company has a 50 day moving average price of $81.32 and a 200 day moving average price of $73.31.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Tuesday, February 27th. The conglomerate reported $0.74 EPS for the quarter, topping the consensus estimate of $0.67 by $0.07. The business had revenue of $448.40 million during the quarter, compared to analyst estimates of $422.45 million. Federal Signal had a return on equity of 16.88% and a net margin of 9.14%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. Equities research analysts forecast that Federal Signal Co. will post 2.99 EPS for the current year.

Federal Signal Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Federal Signal’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%. Federal Signal’s dividend payout ratio is 18.68%.

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.