Arizona State Retirement System Has $1.29 Million Holdings in Federal Signal Corporation (NYSE:FSS)

Arizona State Retirement System lessened its position in shares of Federal Signal Corporation (NYSE:FSS) by 1.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,528 shares of the conglomerate’s stock after selling 218 shares during the quarter. Arizona State Retirement System’s holdings in Federal Signal were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Xponance Inc. raised its stake in shares of Federal Signal by 5.2% during the 1st quarter. Xponance Inc. now owns 4,540 shares of the conglomerate’s stock worth $334,000 after purchasing an additional 226 shares during the period. Alps Advisors Inc. grew its stake in Federal Signal by 8.0% in the first quarter. Alps Advisors Inc. now owns 48,847 shares of the conglomerate’s stock worth $3,593,000 after purchasing an additional 3,623 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Federal Signal by 2.7% during the first quarter. Envestnet Asset Management Inc. now owns 189,919 shares of the conglomerate’s stock valued at $13,969,000 after purchasing an additional 5,017 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Federal Signal by 14.7% in the first quarter. OneDigital Investment Advisors LLC now owns 3,340 shares of the conglomerate’s stock valued at $246,000 after acquiring an additional 427 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Federal Signal by 2.3% in the first quarter. Principal Financial Group Inc. now owns 330,981 shares of the conglomerate’s stock valued at $24,344,000 after acquiring an additional 7,425 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

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

Federal Signal Stock Up 0.9%

Shares of NYSE FSS opened at $108.14 on Friday. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.39 and a quick ratio of 1.09. The business has a 50-day moving average of $101.45 and a two-hundred day moving average of $91.16. Federal Signal Corporation has a 1 year low of $66.47 and a 1 year high of $114.40.

Federal Signal (NYSE:FSS) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $462.63 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. On average, analysts forecast that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

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

Federal Signal declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 22nd that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.