Eagle Asset Management Inc. Trims Holdings in Federal Signal Co. (NYSE:FSS)

Eagle Asset Management Inc. trimmed its position in Federal Signal Co. (NYSE:FSS) by 21.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 229,094 shares of the conglomerate’s stock after selling 63,061 shares during the quarter. Eagle Asset Management Inc.’s holdings in Federal Signal were worth $20,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Federal Signal during the third quarter valued at approximately $29,000. Point72 DIFC Ltd purchased a new position in Federal Signal during the second quarter valued at approximately $62,000. Canada Pension Plan Investment Board purchased a new position in Federal Signal during the second quarter valued at approximately $84,000. GAMMA Investing LLC raised its position in Federal Signal by 60.4% during the second quarter. GAMMA Investing LLC now owns 1,062 shares of the conglomerate’s stock valued at $89,000 after acquiring an additional 400 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Federal Signal by 30.1% during the second quarter. Fifth Third Bancorp now owns 1,124 shares of the conglomerate’s stock valued at $94,000 after acquiring an additional 260 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Federal Signal Stock Up 1.1 %

Shares of FSS opened at $95.87 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. Federal Signal Co. has a 12 month low of $68.02 and a 12 month high of $102.18. The stock’s 50 day moving average is $89.67 and its two-hundred day moving average is $89.28. The firm has a market cap of $5.86 billion, a P/E ratio of 27.79 and a beta of 0.95.

Federal Signal (NYSE:FSS) last issued its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $474.20 million for the quarter, compared to analyst estimates of $481.71 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 earnings per share. Analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. Federal Signal’s payout ratio is 13.91%.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th.

Insider Buying and Selling

In related news, Director Brenda Reichelderfer sold 25,685 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $92.99, for a total value of $2,388,448.15. Following the sale, the director now owns 57,417 shares in the company, valued at approximately $5,339,206.83. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by company insiders.

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.