Algert Global LLC Takes Position in Federal Signal Corporation (FSS)
Algert Global LLC bought a new position in Federal Signal Corporation (NYSE:FSS) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 49,533 shares of the conglomerate’s stock, valued at approximately $1,054,000. Algert Global LLC owned about 0.08% of Federal Signal as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FSS. FMR LLC increased its holdings in shares of Federal Signal by 104.4% in the 2nd quarter. FMR LLC now owns 1,591,319 shares of the conglomerate’s stock worth $27,625,000 after buying an additional 812,669 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Federal Signal by 8.0% in the 2nd quarter. Franklin Resources Inc. now owns 5,279,934 shares of the conglomerate’s stock worth $91,659,000 after buying an additional 391,353 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Federal Signal in the 3rd quarter worth about $6,833,000. Macquarie Group Ltd. increased its holdings in shares of Federal Signal by 14.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,299,374 shares of the conglomerate’s stock worth $27,651,000 after buying an additional 159,995 shares during the last quarter. Finally, Shell Asset Management Co. increased its holdings in shares of Federal Signal by 176.8% in the 3rd quarter. Shell Asset Management Co. now owns 207,370 shares of the conglomerate’s stock worth $2,746,000 after buying an additional 132,447 shares during the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
A number of research firms have recently weighed in on FSS. Zacks Investment Research downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.50.
Federal Signal (NYSE:FSS) last issued its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The company had revenue of $249.00 million for the quarter, compared to the consensus estimate of $240.30 million. Federal Signal had a net margin of 5.30% and a return on equity of 11.39%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS. equities analysts predict that Federal Signal Corporation will post 0.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.28 annualized dividend and a yield of 1.43%. Federal Signal’s payout ratio is 38.36%.
In other Federal Signal news, Director Dennis J. Martin sold 45,172 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $21.90, for a total value of $989,266.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brenda Reichelderfer sold 45,721 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $20.76, for a total transaction of $949,167.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,172 shares of company stock valued at $2,338,207. 4.20% of the stock is owned by corporate insiders.
About Federal Signal
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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