Rhumbline Advisers trimmed its stake in shares of Federal Signal Co. (NYSE:FSS) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 180,724 shares of the conglomerate’s stock after selling 17,508 shares during the quarter. Rhumbline Advisers’ holdings in Federal Signal were worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Federal Signal by 1.3% during the 2nd quarter. BlackRock Inc. now owns 8,840,860 shares of the conglomerate’s stock worth $236,493,000 after purchasing an additional 117,326 shares during the period. Vanguard Group Inc. raised its position in shares of Federal Signal by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,886,632 shares of the conglomerate’s stock worth $103,967,000 after purchasing an additional 64,945 shares during the period. Macquarie Group Ltd. raised its position in shares of Federal Signal by 7.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,614,014 shares of the conglomerate’s stock worth $69,925,000 after purchasing an additional 170,877 shares during the period. Neumeier Poma Investment Counsel LLC raised its position in shares of Federal Signal by 1.2% during the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 1,391,585 shares of the conglomerate’s stock worth $37,225,000 after purchasing an additional 16,355 shares during the period. Finally, Investment Counselors of Maryland LLC raised its position in shares of Federal Signal by 1.1% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,039,732 shares of the conglomerate’s stock worth $27,813,000 after purchasing an additional 11,242 shares during the period. Institutional investors and hedge funds own 89.45% of the company’s stock.
In related news, VP Svetlana Vinokur sold 10,818 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.30, for a total value of $349,421.40. Following the sale, the vice president now directly owns 23,774 shares in the company, valued at approximately $767,900.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ian A. Hudson sold 45,087 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $32.04, for a total value of $1,444,587.48. Following the completion of the sale, the chief financial officer now owns 48,974 shares in the company, valued at $1,569,126.96. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
FSS has been the topic of several analyst reports. ValuEngine cut Federal Signal from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Federal Signal from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday.
FSS opened at $32.45 on Thursday. Federal Signal Co. has a 12 month low of $18.59 and a 12 month high of $35.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.32 and a quick ratio of 1.17. The stock has a market cap of $1.91 billion, a P/E ratio of 22.69 and a beta of 1.58. The stock’s 50 day moving average price is $32.58 and its 200 day moving average price is $28.92.
Federal Signal (NYSE:FSS) last posted its earnings results on Thursday, October 31st. The conglomerate reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Federal Signal had a return on equity of 18.45% and a net margin of 9.37%. The firm had revenue of $308.80 million for the quarter, compared to analysts’ expectations of $309.06 million. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. Equities analysts anticipate that Federal Signal Co. will post 1.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.99%. The ex-dividend date is Tuesday, November 12th. Federal Signal’s dividend payout ratio is currently 22.38%.
Federal Signal Company Profile
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.
Further Reading: Hold Rating
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