Mutual of America Capital Management LLC Buys 4,684 Shares of Federal Signal Corporation (NYSE:FSS)

Mutual of America Capital Management LLC boosted its stake in Federal Signal Corporation (NYSE:FSS) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,238 shares of the conglomerate’s stock after purchasing an additional 4,684 shares during the period. Mutual of America Capital Management LLC owned about 0.17% of Federal Signal worth $7,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSS. CoreCap Advisors LLC raised its stake in 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 raised its stake 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 buying an additional 162 shares during the last quarter. Bessemer Group Inc. raised its stake in Federal Signal by 78.4% during the first quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in 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 buying an additional 200 shares during the last quarter. Finally, Xponance Inc. raised its stake in Federal Signal by 5.2% during the first quarter. Xponance Inc. now owns 4,540 shares of the conglomerate’s stock worth $334,000 after buying an additional 226 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FSS shares. CJS Securities reissued a “market perform” rating and set a $125.00 target price on shares of Federal Signal in a research note on Thursday, July 31st. DA Davidson boosted their target price on shares of Federal Signal from $100.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Raymond James Financial boosted their target price on shares of Federal Signal from $120.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. KeyCorp reissued a “sector weight” rating on shares of Federal Signal in a research report on Friday, July 11th. Finally, Wall Street Zen raised shares of Federal Signal from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Federal Signal has an average rating of “Hold” and a consensus price target of $123.00.

Federal Signal Trading Down 0.3%

NYSE:FSS opened at $125.28 on Thursday. Federal Signal Corporation has a one year low of $66.47 and a one year high of $128.50. The company has a market cap of $7.62 billion, a PE ratio of 34.90, a PEG ratio of 2.23 and a beta of 1.30. The firm has a 50-day moving average of $107.05 and a 200-day moving average of $93.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.60 and a quick ratio of 1.25.

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

Federal Signal declared that its board has authorized a stock repurchase program on Tuesday, April 22nd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the conglomerate to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Federal Signal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Friday, August 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, August 15th. This represents a $0.56 annualized dividend and a yield of 0.4%. Federal Signal’s payout ratio is 15.60%.

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.