Fred Alger Management LLC Cuts Position in Federal Signal Co. (NYSE:FSS)

Fred Alger Management LLC lowered its position in Federal Signal Co. (NYSE:FSS) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 338,183 shares of the conglomerate’s stock after selling 2,193 shares during the quarter. Fred Alger Management LLC owned approximately 0.55% of Federal Signal worth $31,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Federal Signal by 113.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after acquiring an additional 211,555 shares in the last quarter. Millennium Management LLC increased its stake in Federal Signal by 77.8% in the second quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock valued at $37,298,000 after purchasing an additional 195,017 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Federal Signal by 20.3% during the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock worth $76,340,000 after purchasing an additional 153,765 shares in the last quarter. PineStone Asset Management Inc. purchased a new stake in shares of Federal Signal during the 2nd quarter worth approximately $11,982,000. Finally, F M Investments LLC acquired a new position in shares of Federal Signal in the 2nd quarter valued at $11,058,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Trading Down 0.3 %

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

Federal Signal (NYSE:FSS) last announced its earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share (EPS) for the quarter, topping 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 net margin of 11.57% and a return on equity of 18.46%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts anticipate that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, November 15th. Federal Signal’s dividend payout ratio is currently 13.91%.

Wall Street Analyst Weigh In

Separately, DA Davidson reduced their price target on shares of 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 Profile

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.