New York State Teachers Retirement System Sells 4,234 Shares of Federal Signal Co. (NYSE:FSS)

Posted by Defense World Staff on Jul 23rd, 2023

New York State Teachers Retirement System reduced its holdings in Federal Signal Co. (NYSE:FSS – Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,756 shares of the conglomerate’s stock after selling 4,234 shares during the quarter. New York State Teachers Retirement System owned about 0.16% of Federal Signal worth $5,245,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. grew its position in shares of Federal Signal by 22.6% in the 4th quarter. Citigroup Inc. now owns 40,166 shares of the conglomerate’s stock worth $1,867,000 after buying an additional 7,408 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Federal Signal in the 4th quarter valued at approximately $342,000. ProShare Advisors LLC lifted its stake in shares of Federal Signal by 14.8% in the 4th quarter. ProShare Advisors LLC now owns 9,455 shares of the conglomerate’s stock valued at $439,000 after purchasing an additional 1,220 shares during the period. M&T Bank Corp lifted its stake in shares of Federal Signal by 34.3% in the 4th quarter. M&T Bank Corp now owns 21,893 shares of the conglomerate’s stock valued at $1,352,000 after purchasing an additional 5,595 shares during the period. Finally, Watchman Group Inc. lifted its stake in shares of Federal Signal by 1.4% in the 4th quarter. Watchman Group Inc. now owns 58,430 shares of the conglomerate’s stock valued at $2,715,000 after purchasing an additional 805 shares during the period. 91.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FSS shares. StockNews.com upgraded Federal Signal from a “hold” rating to a “buy” rating in a research note on Monday, June 26th. Raymond James raised their target price on Federal Signal from $68.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Federal Signal has an average rating of “Buy” and a consensus price target of $61.00.

Insider Buying and Selling at Federal Signal

In other Federal Signal news, CAO Lauren B. Elting sold 14,541 shares of Federal Signal stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $53.86, for a total value of $783,178.26. Following the completion of the sale, the chief accounting officer now owns 13,991 shares of the company’s stock, valued at approximately $753,555.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Federal Signal news, CFO Ian A. Hudson sold 9,343 shares of Federal Signal stock in a transaction on Monday, May 8th. The stock was sold at an average price of $52.53, for a total value of $490,787.79. Following the completion of the sale, the chief financial officer now owns 70,651 shares of the company’s stock, valued at approximately $3,711,297.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren B. Elting sold 14,541 shares of Federal Signal stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $53.86, for a total value of $783,178.26. Following the completion of the sale, the chief accounting officer now directly owns 13,991 shares of the company’s stock, valued at approximately $753,555.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,214 shares of company stock worth $3,828,273. 3.10% of the stock is owned by insiders.

Federal Signal Stock Down 0.9 %

Shares of NYSE:FSS opened at $63.03 on Friday. The stock has a fifty day simple moving average of $59.90 and a two-hundred day simple moving average of $54.90. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 30.16 and a beta of 1.11. Federal Signal Co. has a 12-month low of $37.04 and a 12-month high of $65.33. The company has a current ratio of 2.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Federal Signal (NYSE:FSS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 2nd. The conglomerate reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $385.50 million during the quarter, compared to analysts’ expectations of $370.61 million. Federal Signal had a return on equity of 15.06% and a net margin of 8.54%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, research analysts anticipate that Federal Signal Co. will post 2.37 earnings per share for the current fiscal year.

Federal Signal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 19th were paid a dividend of $0.10 per share. This is a boost from Federal Signal’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.63%. Federal Signal’s payout ratio is presently 19.14%.

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.