Federal Signal Co. (NYSE:FSS) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in shares of Federal Signal Co. (NYSE:FSS) by 7.6% in the 3rd quarter, Holdings Channel reports. The firm owned 8,820 shares of the conglomerate’s stock after selling 725 shares during the quarter. Atria Investments Inc’s holdings in Federal Signal were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Federal Signal by 113.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after purchasing an additional 211,555 shares during the last quarter. Millennium Management LLC grew its holdings in Federal Signal by 77.8% in the 2nd quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock worth $37,298,000 after buying an additional 195,017 shares in the last quarter. Driehaus Capital Management LLC increased its position in Federal Signal by 20.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock valued at $76,340,000 after acquiring an additional 153,765 shares during the period. PineStone Asset Management Inc. bought a new stake in Federal Signal during the 2nd quarter valued at $11,982,000. Finally, F M Investments LLC acquired a new position in Federal Signal during the 2nd quarter worth $11,058,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, DA Davidson lowered their price target on Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th.

Insider Buying and Selling

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

Federal Signal Stock Up 1.4 %

FSS stock opened at $90.53 on Tuesday. The firm’s 50-day moving average is $89.04 and its two-hundred day moving average is $89.10. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 25.71 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 company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS) last released its earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $474.20 million during the quarter, compared to the consensus estimate of $481.71 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts forecast that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 0.53%. Federal Signal’s dividend payout ratio is currently 13.91%.

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.