Federal Signal Corporation (NYSE:FSS) Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Federal Signal Corporation (NYSE:FSS) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,028 shares of the conglomerate’s stock after buying an additional 351 shares during the quarter. GAMMA Investing LLC’s holdings in Federal Signal were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CoreCap Advisors LLC raised its position in shares of Federal Signal by 19.9% during the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate’s stock worth $81,000 after buying an additional 145 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Federal Signal by 0.9% in the 4th quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate’s stock worth $1,640,000 after purchasing an additional 152 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Federal Signal by 37.4% in the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock worth $56,000 after purchasing an additional 165 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Federal Signal by 15.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate’s stock worth $124,000 after purchasing an additional 181 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Federal Signal by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,292 shares of the conglomerate’s stock worth $581,000 after purchasing an additional 200 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Federal Signal Stock Up 5.3%

NYSE FSS opened at $115.13 on Friday. Federal Signal Corporation has a 12 month low of $66.47 and a 12 month high of $110.79. The company’s 50 day simple moving average is $95.67 and its 200 day simple moving average is $89.86. 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 company has a market capitalization of $7.02 billion, a P/E ratio of 33.66, a PEG ratio of 2.07 and a beta of 1.27.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $462.63 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that Federal Signal Corporation will post 3.34 earnings per share for the current fiscal year.

Federal Signal announced that its board has initiated a share buyback 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 usually a sign that the company’s board of directors believes its shares are undervalued.

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 issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.49%. Federal Signal’s dividend payout ratio is currently 16.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FSS shares. Raymond James Financial set a $120.00 target price on shares of Federal Signal and gave the stock an “outperform” rating in a report on Monday, June 30th. DA Davidson boosted their target price on shares of Federal Signal from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Finally, KeyCorp upgraded shares of Federal Signal from a “sector weight” rating to an “overweight” rating and set a $110.00 target price on the stock in a report on Monday, May 12th.

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.