Federal Signal Co. (NYSE:FSS) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC lowered its stake in shares of Federal Signal Co. (NYSE:FSS) by 29.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 595,980 shares of the conglomerate’s stock after selling 250,090 shares during the quarter. Driehaus Capital Management LLC’s holdings in Federal Signal were worth $55,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSS. Capital World Investors bought a new stake in shares of Federal Signal in the 4th quarter worth about $79,810,000. Norges Bank bought a new position in Federal Signal during the 4th quarter worth approximately $78,192,000. Raymond James Financial Inc. acquired a new position in shares of Federal Signal in the 4th quarter worth approximately $36,636,000. First Trust Advisors LP increased its holdings in shares of Federal Signal by 56.5% in the 4th quarter. First Trust Advisors LP now owns 894,136 shares of the conglomerate’s stock valued at $82,609,000 after acquiring an additional 322,676 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Federal Signal by 12.4% during the 4th quarter. Invesco Ltd. now owns 2,199,200 shares of the conglomerate’s stock valued at $203,184,000 after acquiring an additional 242,840 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

Federal Signal Stock Up 0.9 %

FSS stock opened at $88.14 on Thursday. The stock has a market cap of $5.37 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. The firm’s 50-day simple moving average is $77.37 and its 200 day simple moving average is $87.94. Federal Signal Co. has a fifty-two week low of $66.47 and a fifty-two week high of $102.18. 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 released its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The company had revenue of $463.80 million for the quarter, compared to analysts’ expectations of $462.63 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.14 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. Federal Signal’s dividend payout ratio is presently 16.37%.

Federal Signal declared that its Board of Directors has authorized a share buyback program on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

FSS has been the subject of several recent research reports. StockNews.com lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. DA Davidson increased their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Raymond James cut their target price on shares of Federal Signal from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, April 14th.

Insider Buying and Selling at Federal Signal

In other Federal Signal news, CEO Jennifer L. Sherman purchased 1,250 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $82.32 per share, with a total value of $102,900.00. Following the acquisition, the chief executive officer now owns 559,183 shares of the company’s stock, valued at $46,031,944.56. The trade was a 0.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Federal Signal Company 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.