Eagle Asset Management Inc. Reduces Stake in Federal Signal Co. (NYSE:FSS)

Eagle Asset Management Inc. reduced its holdings in shares of Federal Signal Co. (NYSE:FSSGet Rating) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,768 shares of the conglomerate’s stock after selling 45,664 shares during the quarter. Eagle Asset Management Inc. owned about 0.53% of Federal Signal worth $13,794,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in FSS. National Bank of Canada FI bought a new position in shares of Federal Signal in the 4th quarter worth $40,000. Eagle Bay Advisors LLC increased its holdings in shares of Federal Signal by 91.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 3,600 shares of the conglomerate’s stock worth $140,000 after buying an additional 1,720 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Federal Signal in the 3rd quarter worth $207,000. Advisor Group Holdings Inc. increased its holdings in shares of Federal Signal by 10.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,782 shares of the conglomerate’s stock worth $225,000 after buying an additional 532 shares during the last quarter. Finally, Keebeck Alpha LP bought a new position in shares of Federal Signal during the 4th quarter valued at $225,000. Institutional investors own 91.53% of the company’s stock.

NYSE:FSS opened at $33.50 on Friday. The firm has a market cap of $2.03 billion, a P/E ratio of 20.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.18 and a current ratio of 2.56. Federal Signal Co. has a fifty-two week low of $31.86 and a fifty-two week high of $48.88. The firm has a 50-day simple moving average of $33.83 and a two-hundred day simple moving average of $38.49.

Federal Signal (NYSE:FSSGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The conglomerate reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $301.40 million during the quarter, compared to analyst estimates of $301.64 million. Federal Signal had a net margin of 7.82% and a return on equity of 13.74%. Federal Signal’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, equities research analysts predict that Federal Signal Co. will post 1.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be paid a $0.09 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Federal Signal’s dividend payout ratio is presently 22.50%.

FSS has been the topic of several recent research reports. StockNews.com initiated coverage on shares of Federal Signal in a report on Thursday, March 31st. They set a “hold” rating on the stock. KeyCorp cut their price target on shares of Federal Signal from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, March 18th. Zacks Investment Research raised shares of Federal Signal from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, Raymond James cut their price target on shares of Federal Signal from $46.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 26th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.20.

In related news, CEO Jennifer L. Sherman purchased 2,800 shares of Federal Signal stock in a transaction dated Thursday, March 3rd. The stock was purchased at an average cost of $34.60 per share, for a total transaction of $96,880.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

About Federal Signal (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Federal Signal (NYSE:FSS)

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