Rhumbline Advisers Sells 1,643 Shares of Federal Signal Co. (NYSE:FSS)

Rhumbline Advisers lowered its position in Federal Signal Co. (NYSE:FSS) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,649 shares of the conglomerate’s stock after selling 1,643 shares during the period. Rhumbline Advisers owned approximately 0.27% of Federal Signal worth $11,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock worth $56,000 after acquiring an additional 165 shares during the last quarter. CoreCap Advisors LLC increased its stake in Federal Signal by 19.9% in the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate’s stock worth $81,000 after purchasing an additional 145 shares during the period. Steward Partners Investment Advisory LLC lifted 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 during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Federal Signal by 182.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the conglomerate’s stock worth $127,000 after purchasing an additional 891 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Federal Signal by 48.1% during the fourth quarter. NewEdge Advisors LLC now owns 1,586 shares of the conglomerate’s stock valued at $146,000 after purchasing an additional 515 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FSS shares. Wall Street Zen downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. KeyCorp upgraded Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 price objective on the stock in a report on Monday, May 12th. DA Davidson lifted their target price on Federal Signal from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Finally, 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 report on Monday, April 14th.

Federal Signal Trading Up 1.3%

Shares of NYSE:FSS opened at $100.56 on Tuesday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.85 and a beta of 1.26. The business has a 50-day moving average price of $84.54 and a 200-day moving average price of $88.98. Federal Signal Co. has a 52-week low of $66.47 and a 52-week high of $102.18. 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 (NYSE:FSS) last released its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business had revenue of $463.80 million for the quarter, compared to analyst estimates of $462.63 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.14 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.56%. Federal Signal’s dividend payout ratio (DPR) is presently 16.37%.

Federal Signal announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 22nd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Federal Signal Company 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.