Driehaus Capital Management LLC Buys 153,765 Shares of Federal Signal Co. (NYSE:FSS)

Driehaus Capital Management LLC raised its position in Federal Signal Co. (NYSE:FSS - Free Report) by 20.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 912,392 shares of the conglomerate's stock after buying an additional 153,765 shares during the period. Driehaus Capital Management LLC owned about 1.49% of Federal Signal worth $76,340,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FSS. Parallel Advisors LLC boosted its position in Federal Signal by 28.1% in the 4th quarter. Parallel Advisors LLC now owns 638 shares of the conglomerate's stock valued at $49,000 after buying an additional 140 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Federal Signal by 34.6% in the 1st quarter. GAMMA Investing LLC now owns 662 shares of the conglomerate's stock valued at $56,000 after purchasing an additional 170 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Federal Signal in the 2nd quarter valued at $62,000. Covestor Ltd lifted its stake in shares of Federal Signal by 223.6% in the 1st quarter. Covestor Ltd now owns 893 shares of the conglomerate's stock valued at $76,000 after purchasing an additional 617 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Federal Signal in the 2nd quarter valued at $84,000. 92.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Federal Signal news, Director Brenda Reichelderfer sold 25,685 shares of Federal Signal stock in a transaction dated 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 of the company's stock, valued at approximately $5,339,206.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, William Blair started coverage on Federal Signal in a research note on Friday, May 31st. They issued an "outperform" rating on the stock.

Federal Signal Trading Up 0.2 %

Shares of FSS stock traded up $0.20 during trading hours on Friday, reaching $93.00. The company had a trading volume of 283,822 shares, compared to its average volume of 345,675. The company has a 50 day moving average of $92.27 and a 200 day moving average of $87.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 1.35. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 31.42 and a beta of 0.94. Federal Signal Co. has a 1-year low of $57.05 and a 1-year high of $102.18.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $0.95 EPS for the quarter, topping the consensus estimate of $0.84 by $0.11. The business had revenue of $490.40 million for the quarter, compared to the consensus estimate of $487.74 million. Federal Signal had a return on equity of 18.31% and a net margin of 11.16%. The firm's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, equities research analysts anticipate that Federal Signal Co. will post 3.24 EPS for the current year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 16th. Federal Signal's payout ratio is presently 16.22%.

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.