FEDERAL SIGNAL CORPORATION
In the published model solve dated 2026-Q2, anchored at $118.13, FEDERAL SIGNAL CORPORATION (FSS) is priced for +17.0% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• Five-sixths of Federal Signal's revenue comes from Environmental Solutions, the sewer cleaners, street sweepers, vacuum excavators and refuse bodies that municipalities replace on a schedule rather than on a whim, and that group grew net sales by 145.3 million dollars, or 38%, in the March 2026 quarter alone [Source: first-quarter 2026 Form 10-Q, management's discussion]. • Much of the growth has been bought rather than grown: the New Way Trucks and Kinloch transactions landed in that same seg
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435 institutional managers reported holding FSS in 13F filings for the quarter ended 2026-03-31. 71 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 3.9M shares were sold short as of the 2026-06-15 count, about 6% of shares outstanding (8.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FSS's share count is about flat over the past five years ($83.30M of repurchases, offset by issuance). It pays a dividend, and has for 12 years running, raised 3 years straight; the current rate is $0.56 a share annually. Cash returned over the past three years: $84.80M in dividends and $52.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FSS over the trailing three years: 2025: 1 buy totaling $103k; 2026: 1 buy totaling $222k. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FSS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2021-11-10 | -2.1% | -11.8% |
| 2022-03-02 | +1.4% | +3.5% |
| 2022-05-03 | -0.9% | +1.2% |
| 2022-11-04 | -0.1% | +6.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FSS's latest 8-K filings: 2026-05-20 (items 7.01, 9.01); 2026-04-22 (items 5.07, 9.01); 2026-03-02 (items 7.01, 9.01); 2026-02-26 (items 5.02, 9.01); 2026-01-16 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.