GSA Capital Partners LLP Invests $876,000 in Federal Signal Corporation (NYSE:FSS)

GSA Capital Partners LLP acquired a new stake in Federal Signal Corporation (NYSE:FSS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,913 shares of the conglomerate’s stock, valued at approximately $876,000.

A number of other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. raised its position in Federal Signal by 12.4% in the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock valued at $203,184,000 after purchasing an additional 242,840 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Federal Signal by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,630,971 shares of the conglomerate’s stock worth $150,715,000 after buying an additional 29,197 shares during the period. FMR LLC increased its stake in shares of Federal Signal by 19.4% during the fourth quarter. FMR LLC now owns 1,469,614 shares of the conglomerate’s stock worth $135,778,000 after buying an additional 238,608 shares during the period. Van Berkom & Associates Inc. raised its holdings in Federal Signal by 2.0% in the first quarter. Van Berkom & Associates Inc. now owns 1,045,565 shares of the conglomerate’s stock valued at $76,901,000 after acquiring an additional 20,771 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Federal Signal by 56.5% in the fourth quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock valued at $82,609,000 after acquiring an additional 322,676 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Price Performance

Federal Signal stock opened at $122.48 on Friday. The firm has a market capitalization of $7.47 billion, a PE ratio of 34.12, a P/E/G ratio of 2.63 and a beta of 1.27. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $128.50. The firm’s 50-day simple moving average is $105.18 and its 200 day simple moving average is $92.47. The company has a quick ratio of 1.09, a current ratio of 2.60 and a debt-to-equity ratio of 0.20.

Federal Signal (NYSE:FSS) last announced its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $564.60 million for the quarter, compared to analysts’ expectations of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%. Federal Signal’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities research analysts predict that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

Federal Signal announced that its board has initiated a share repurchase plan on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Federal Signal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 15th. Federal Signal’s payout ratio is currently 15.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FSS. DA Davidson raised their target price on Federal Signal from $100.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday. KeyCorp reissued a “sector weight” rating on shares of Federal Signal in a report on Friday, July 11th. Wall Street Zen upgraded shares of Federal Signal from a “hold” rating to a “buy” rating in a research report on Saturday. Raymond James Financial lifted their price target on shares of Federal Signal from $120.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, CJS Securities reissued a “market perform” rating and issued a $125.00 price target on shares of Federal Signal in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Federal Signal presently has a consensus rating of “Hold” and an average price target of $123.00.

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.