MQS Management LLC Invests $304,000 in Federal Signal Corporation (NYSE:FSS)

MQS Management LLC acquired a new position in Federal Signal Corporation (NYSE:FSSFree Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,134 shares of the conglomerate’s stock, valued at approximately $304,000.

Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Federal Signal by 4.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 104,238 shares of the conglomerate’s stock valued at $7,667,000 after acquiring an additional 4,684 shares in the last quarter. Xponance Inc. boosted its holdings in Federal Signal by 5.2% in the 1st quarter. Xponance Inc. now owns 4,540 shares of the conglomerate’s stock worth $334,000 after acquiring an additional 226 shares during the period. Alps Advisors Inc. boosted its holdings in Federal Signal by 8.0% in the 1st quarter. Alps Advisors Inc. now owns 48,847 shares of the conglomerate’s stock worth $3,593,000 after acquiring an additional 3,623 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Federal Signal by 2.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 189,919 shares of the conglomerate’s stock worth $13,969,000 after acquiring an additional 5,017 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings in Federal Signal by 14.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,340 shares of the conglomerate’s stock worth $246,000 after acquiring an additional 427 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Federal Signal Stock Down 2.0%

Shares of NYSE:FSS opened at $107.93 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $99.54 and a 200 day simple moving average of $90.61. The firm has a market cap of $6.58 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.05 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.

Federal Signal (NYSE:FSSGet Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Federal Signal had a net margin of 11.10% and a return on equity of 18.44%. The business had revenue of $463.80 million during the quarter, compared to analyst estimates 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, equities research analysts anticipate that Federal Signal Corporation will post 3.34 EPS for the current fiscal year.

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

Federal Signal Announces Dividend

The company also recently disclosed 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. This represents a $0.56 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 16th. Federal Signal’s payout ratio is currently 16.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FSS shares. KeyCorp restated a “sector weight” rating on shares of Federal Signal in a report on Friday. Raymond James Financial set a $120.00 target price on Federal Signal and gave the company an “outperform” rating in a research note on Monday, June 30th. Finally, DA Davidson raised 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.

Read Our Latest Research Report on FSS

Federal Signal Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Federal Signal (NYSE:FSS)

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