TD Asset Management Inc Sells 796 Shares of Federal Signal Corporation (NYSE:FSS)

TD Asset Management Inc cut its holdings in shares of Federal Signal Corporation (NYSE:FSS) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,720 shares of the conglomerate’s stock after selling 796 shares during the period. TD Asset Management Inc owned approximately 0.06% of Federal Signal worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in shares of Federal Signal by 57.4% during the fourth quarter. LPL Financial LLC now owns 21,098 shares of the conglomerate’s stock worth $1,949,000 after buying an additional 7,696 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Federal Signal by 79.9% during the fourth quarter. JPMorgan Chase & Co. now owns 304,711 shares of the conglomerate’s stock worth $28,152,000 after buying an additional 135,359 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Federal Signal by 11.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,070 shares of the conglomerate’s stock worth $838,000 after buying an additional 935 shares during the period. Schroder Investment Management Group boosted its position in shares of Federal Signal by 110.3% during the fourth quarter. Schroder Investment Management Group now owns 16,849 shares of the conglomerate’s stock worth $1,553,000 after buying an additional 8,837 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Federal Signal by 0.6% during the fourth quarter. California Public Employees Retirement System now owns 89,654 shares of the conglomerate’s stock worth $8,283,000 after buying an additional 514 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Federal Signal Stock Performance

FSS opened at $122.48 on Friday. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $128.50. The firm has a market capitalization of $7.45 billion, a PE ratio of 34.12, a PEG ratio of 2.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 2.60. The business’s 50-day simple moving average is $105.18 and its 200 day simple moving average is $92.45.

Federal Signal (NYSE:FSS) last released its earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%. The business had revenue of $564.60 million for the quarter, compared to analyst estimates of $537.24 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. Federal Signal’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

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 $0.14 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.5%. Federal Signal’s dividend payout ratio is currently 15.60%.

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

Analyst Ratings Changes

FSS has been the subject of several recent research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Federal Signal in a research report on Friday, July 11th. CJS Securities cut Federal Signal from a “strong-buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Thursday. Wall Street Zen raised Federal Signal from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson upped their price objective on Federal Signal from $100.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James Financial upped their target price on Federal Signal from $120.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Federal Signal presently has an average rating of “Hold” and an average price target of $123.00.

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.