Lisanti Capital Growth LLC Cuts Position in Federal Signal Co. (NYSE:FSS)

Lisanti Capital Growth LLC reduced its stake in shares of Federal Signal Co. (NYSE:FSS - Free Report) by 14.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,750 shares of the conglomerate's stock after selling 10,225 shares during the quarter. Federal Signal comprises approximately 1.5% of Lisanti Capital Growth LLC's holdings, making the stock its 14th largest position. Lisanti Capital Growth LLC owned about 0.10% of Federal Signal worth $5,865,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FSS. Assenagon Asset Management S.A. increased its stake in Federal Signal by 113.4% during the third quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate's stock worth $37,200,000 after acquiring an additional 211,555 shares during the last quarter. Millennium Management LLC raised its position in shares of Federal Signal by 77.8% in the 2nd quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate's stock valued at $37,298,000 after purchasing an additional 195,017 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Federal Signal by 20.3% in the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate's stock worth $76,340,000 after acquiring an additional 153,765 shares during the period. PineStone Asset Management Inc. purchased a new position in shares of Federal Signal during the 2nd quarter valued at approximately $11,982,000. Finally, F M Investments LLC purchased a new stake in Federal Signal in the 2nd quarter worth $11,058,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Federal Signal Price Performance

Shares of FSS traded up $0.54 during mid-day trading on Monday, hitting $90.89. The company's stock had a trading volume of 275,357 shares, compared to its average volume of 351,809. 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 $65.23 and a 1-year high of $102.18. The firm has a market capitalization of $5.55 billion, a P/E ratio of 26.34 and a beta of 0.95. The firm has a 50-day simple moving average of $88.74 and a 200 day simple moving average of $88.82.

Federal Signal (NYSE:FSS - Get Free Report) last announced its 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. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The company had revenue of $474.20 million during the quarter, compared to analysts' expectations of $481.71 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. Analysts predict that Federal Signal Co. will post 3.33 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 15th. Federal Signal's payout ratio is 13.91%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered their target price on shares of Federal Signal from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th.

Insiders Place Their Bets

In related news, Director Brenda Reichelderfer sold 25,685 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $92.99, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by corporate insiders.

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.