Weiss Asset Management LP Makes New $1.03 Million Investment in Federal Signal Co. (NYSE:FSS)

Weiss Asset Management LP purchased a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,996 shares of the conglomerate's stock, valued at approximately $1,028,000.

A number of other hedge funds also recently modified their holdings of the business. Federated Hermes Inc. raised its position in shares of Federal Signal by 0.6% during the second quarter. Federated Hermes Inc. now owns 20,311 shares of the conglomerate's stock worth $1,699,000 after purchasing an additional 121 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Federal Signal by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,996 shares of the conglomerate's stock worth $251,000 after purchasing an additional 130 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Federal Signal by 4.1% during the third quarter. Crossmark Global Holdings Inc. now owns 4,269 shares of the conglomerate's stock worth $399,000 after purchasing an additional 169 shares during the period. Xponance Inc. raised its position in shares of Federal Signal by 4.9% during the second quarter. Xponance Inc. now owns 3,812 shares of the conglomerate's stock worth $319,000 after purchasing an additional 178 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Federal Signal by 2.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,339 shares of the conglomerate's stock worth $530,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Analyst Ratings Changes

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

Federal Signal Stock Up 0.4 %

Federal Signal stock traded up $0.37 during midday trading on Monday, reaching $98.19. The stock had a trading volume of 283,151 shares, compared to its average volume of 355,017. The firm's fifty day simple moving average is $91.21 and its 200-day simple moving average is $90.20. Federal Signal Co. has a 1-year low of $71.29 and a 1-year high of $102.18. The stock has a market capitalization of $6.00 billion, a P/E ratio of 28.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83.

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, beating analysts' consensus estimates of $0.84 by $0.04. The business 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%. Federal Signal's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 EPS. As a group, analysts expect that Federal Signal Co. will post 3.34 EPS for the current fiscal year.

Federal Signal Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, November 15th. Federal Signal's dividend payout ratio (DPR) is 13.91%.

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.