Eagle Asset Management Inc. Sells 63,061 Shares of Federal Signal Co. (NYSE:FSS)

Eagle Asset Management Inc. trimmed its holdings in Federal Signal Co. (NYSE:FSS) by 21.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,094 shares of the conglomerate’s stock after selling 63,061 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.37% of Federal Signal worth $20,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in shares of Federal Signal by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 20,311 shares of the conglomerate’s stock worth $1,699,000 after acquiring an additional 121 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Federal Signal by 4.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,996 shares of the conglomerate’s stock valued at $251,000 after acquiring an additional 130 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Federal Signal by 4.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,269 shares of the conglomerate’s stock valued at $399,000 after acquiring an additional 169 shares during the last quarter. Xponance Inc. grew its position in Federal Signal by 4.9% in the 2nd quarter. Xponance Inc. now owns 3,812 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 178 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Federal Signal by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,339 shares of the conglomerate’s stock valued at $530,000 after acquiring an additional 180 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

Federal Signal Price Performance

FSS opened at $95.87 on Friday. Federal Signal Co. has a 12-month low of $68.02 and a 12-month high of $102.18. 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 business’s fifty day simple moving average is $89.67 and its 200-day simple moving average is $89.28. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 27.79 and a beta of 0.95.

Federal Signal (NYSE:FSS) last posted its quarterly 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. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business had revenue of $474.20 million for the quarter, compared to the consensus estimate of $481.71 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 15th. Federal Signal’s payout ratio is currently 13.91%.

Insider Activity at Federal Signal

In related news, Director Brenda Reichelderfer sold 25,685 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $92.99, for a total transaction of $2,388,448.15. Following the sale, the director now owns 57,417 shares of the company’s stock, valued at $5,339,206.83. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is owned by corporate insiders.

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 on the stock 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.