Bank of New York Mellon Corp Has $34.41 Million Position in Federal Signal Corporation (NYSE:FSS)

Bank of New York Mellon Corp decreased its position in Federal Signal Corporation (NYSE:FSS) by 6.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 467,902 shares of the conglomerate’s stock after selling 34,271 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Federal Signal worth $34,414,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in FSS. CoreCap Advisors LLC grew its stake in shares of Federal Signal by 19.9% during the fourth quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate’s stock worth $81,000 after buying an additional 145 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Federal Signal by 16.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate’s stock worth $82,000 after acquiring an additional 162 shares during the period. Signaturefd LLC boosted 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 worth $56,000 after acquiring an additional 165 shares during the period. Bessemer Group Inc. increased its holdings in shares of Federal Signal by 78.4% in the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Federal Signal by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,292 shares of the conglomerate’s stock worth $581,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FSS shares. DA Davidson boosted their target price on Federal Signal from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Raymond James Financial set a $120.00 price target on Federal Signal and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Federal Signal in a report on Friday, July 11th.

Federal Signal Price Performance

FSS stock opened at $107.06 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.01 and a beta of 1.27. Federal Signal Corporation has a 12-month low of $66.47 and a 12-month high of $114.40. The firm has a 50 day moving average of $100.35 and a 200-day moving average of $90.83. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22.

Federal Signal (NYSE:FSS) last released its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Federal Signal had a return on equity of 18.44% and a net margin of 11.10%. The business had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same period in the prior year, the firm posted $0.64 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts expect that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 16th. This represents a $0.56 annualized dividend and a yield of 0.52%. Federal Signal’s payout ratio is 16.37%.

Federal Signal declared that its board has approved a stock repurchase program on Tuesday, April 22nd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board 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.