Eagle Asset Management Inc. decreased its position in Federal Signal Co. (NYSE:FSS - Free Report) by 21.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,094 shares of the conglomerate's stock after selling 63,061 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.37% of Federal Signal worth $20,699,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of FSS. Vanguard Group Inc. increased its position in Federal Signal by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,786,204 shares of the conglomerate's stock worth $575,945,000 after buying an additional 106,899 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Federal Signal by 2.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,389,045 shares of the conglomerate's stock valued at $129,820,000 after acquiring an additional 35,167 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Federal Signal by 20.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate's stock worth $76,340,000 after purchasing an additional 153,765 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Federal Signal by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,047 shares of the conglomerate's stock valued at $71,875,000 after acquiring an additional 31,517 shares during the period. Finally, Global Alpha Capital Management Ltd. raised its position in Federal Signal by 1.5% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 602,613 shares of the conglomerate's stock worth $56,320,000 after purchasing an additional 9,100 shares during the period. 92.73% of the stock is currently owned by institutional investors.
Federal Signal Stock Performance
Shares of FSS stock traded up $1.05 during mid-day trading on Friday, reaching $95.87. The stock had a trading volume of 538,208 shares, compared to its average volume of 522,222. 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 1-year low of $68.02 and a 1-year high of $102.18. The business's fifty day moving average is $89.85 and its 200-day moving average is $89.36. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 27.79 and a beta of 0.95.
Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The company had revenue of $474.20 million for the quarter, compared to analyst estimates of $481.71 million. During the same period last year, the company earned $0.71 earnings per share. Federal Signal's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Federal Signal Co. will post 3.34 earnings per share for the current year.
Federal Signal Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.12 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 0.50%. Federal Signal's dividend payout ratio (DPR) is presently 13.91%.
Analyst Ratings Changes
Separately, DA Davidson reduced 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.
Get Our Latest Stock Analysis on FSS
Insider Activity at Federal Signal
In related news, Director Brenda Reichelderfer sold 25,685 shares of Federal Signal stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $92.99, for a total value of $2,388,448.15. Following the completion of the transaction, the director now owns 57,417 shares in the company, valued at $5,339,206.83. The trade was a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company's stock.
About Federal Signal
(
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.
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