Citadel Advisors LLC lessened its stake in Federal Signal Corporation (NYSE:FSS) by 78.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,405 shares of the conglomerate’s stock after selling 58,349 shares during the period. Citadel Advisors LLC’s holdings in Federal Signal were worth $349,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Federal Signal by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 267,119 shares of the conglomerate’s stock worth $5,645,000 after buying an additional 9,467 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Federal Signal during the third quarter valued at $6,833,000. Nordea Investment Management AB bought a new stake in Federal Signal during the third quarter valued at $419,000. American International Group Inc. increased its stake in Federal Signal by 5.8% during the third quarter. American International Group Inc. now owns 46,850 shares of the conglomerate’s stock valued at $997,000 after purchasing an additional 2,556 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Federal Signal during the third quarter valued at $255,000. Institutional investors and hedge funds own 84.12% of the company’s stock.
In other news, Director James E. Goodwin sold 10,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $20.67, for a total transaction of $206,700.00. Following the completion of the transaction, the director now owns 122,929 shares of the company’s stock, valued at $2,540,942.43. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brenda Reichelderfer sold 45,721 shares of the business’s stock in a transaction on 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. In the last quarter, insiders have sold 110,172 shares of company stock valued at $2,338,207. 4.20% of the stock is owned by insiders.
Several analysts have weighed in on FSS shares. Zacks Investment Research lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. ValuEngine lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Federal Signal presently has a consensus rating of “Buy” and an average target price of $22.50.
Shares of Federal Signal Corporation (NYSE FSS) opened at $19.76 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.23 and a debt-to-equity ratio of 0.67. Federal Signal Corporation has a 12 month low of $13.07 and a 12 month high of $23.64. The firm has a market cap of $1,187.68, a price-to-earnings ratio of 25.71 and a beta of 1.30.
Federal Signal (NYSE:FSS) last released its earnings results on Thursday, November 2nd. The conglomerate reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Federal Signal had a net margin of 5.30% and a return on equity of 11.39%. The firm had revenue of $249.00 million during the quarter, compared to analyst estimates of $240.30 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. equities research analysts forecast that Federal Signal Corporation will post 0.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, November 13th. This represents a $0.28 annualized dividend and a yield of 1.42%. Federal Signal’s payout ratio is 38.36%.
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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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