First Trust Advisors LP Purchases 322,676 Shares of Federal Signal Co. (NYSE:FSS)

First Trust Advisors LP raised its position in Federal Signal Co. (NYSE:FSS - Free Report) by 56.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 894,136 shares of the conglomerate's stock after purchasing an additional 322,676 shares during the quarter. First Trust Advisors LP owned about 1.46% of Federal Signal worth $82,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Mather Group LLC. lifted its holdings in shares of Federal Signal by 20.1% in the fourth quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock valued at $82,000 after buying an additional 149 shares during the period. Arizona State Retirement System raised its position in Federal Signal by 0.9% in the fourth quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate's stock worth $1,640,000 after acquiring an additional 152 shares in the last quarter. Albion Financial Group UT raised its position in Federal Signal by 1.3% in the fourth quarter. Albion Financial Group UT now owns 12,126 shares of the conglomerate's stock worth $1,120,000 after acquiring an additional 153 shares in the last quarter. Signaturefd LLC lifted its holdings in Federal Signal by 37.4% in the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after acquiring an additional 165 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Federal Signal by 15.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock valued at $124,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Insider Activity

In other Federal Signal news, CEO Jennifer L. Sherman bought 1,250 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $82.32 per share, with a total value of $102,900.00. Following the completion of the transaction, the chief executive officer now directly owns 559,183 shares of the company's stock, valued at $46,031,944.56. This represents a 0.22 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Federal Signal Trading Down 2.0 %

Shares of FSS traded down $1.51 during midday trading on Friday, hitting $75.21. The stock had a trading volume of 527,781 shares, compared to its average volume of 422,145. Federal Signal Co. has a fifty-two week low of $66.47 and a fifty-two week high of $102.18. The business has a 50-day simple moving average of $78.82 and a two-hundred day simple moving average of $88.55. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4.60 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11.

Federal Signal (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The company had revenue of $472.00 million for the quarter, compared to the consensus estimate of $481.90 million. As a group, equities analysts forecast that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Federal Signal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.74%. Federal Signal's payout ratio is 15.95%.

Wall Street Analyst Weigh In

Several analysts recently commented on FSS shares. Raymond James cut their target price on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. StockNews.com downgraded Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

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.