Federal Signal Co. (NYSE:FSS) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its position in shares of Federal Signal Co. (NYSE:FSS) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 338,183 shares of the conglomerate’s stock after selling 2,193 shares during the quarter. Fred Alger Management LLC’s holdings in Federal Signal were worth $31,607,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Federal Signal during the third quarter worth about $29,000. Point72 DIFC Ltd acquired a new position in Federal Signal during the 2nd quarter worth approximately $62,000. Canada Pension Plan Investment Board purchased a new position in shares of Federal Signal during the 2nd quarter worth approximately $84,000. GAMMA Investing LLC lifted its holdings in shares of Federal Signal by 60.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,062 shares of the conglomerate’s stock valued at $89,000 after buying an additional 400 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Federal Signal by 30.1% in the second quarter. Fifth Third Bancorp now owns 1,124 shares of the conglomerate’s stock valued at $94,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson cut their price objective on Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th.

Federal Signal Stock Down 0.3 %

FSS stock opened at $97.56 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $90.65 and its 200 day moving average price is $89.75. Federal Signal Co. has a 52 week low of $68.02 and a 52 week high of $102.18. The company has a market cap of $5.96 billion, a P/E ratio of 28.28 and a beta of 0.95.

Federal Signal (NYSE:FSS) last announced its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.88 EPS for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 EPS. On average, research analysts expect that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid 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 is Friday, November 15th. Federal Signal’s dividend payout ratio (DPR) is presently 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.