Gabelli Funds LLC Lowers Stock Holdings in Federal Signal Co. (NYSE:FSS)

Gabelli Funds LLC reduced its holdings in Federal Signal Co. (NYSE:FSS) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,700 shares of the conglomerate’s stock after selling 800 shares during the period. Gabelli Funds LLC owned about 0.30% of Federal Signal worth $15,370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its stake in Federal Signal by 28.1% in the 4th quarter. Parallel Advisors LLC now owns 638 shares of the conglomerate’s stock valued at $49,000 after acquiring an additional 140 shares during the period. GAMMA Investing LLC lifted its holdings in Federal Signal by 34.6% during the first quarter. GAMMA Investing LLC now owns 662 shares of the conglomerate’s stock valued at $56,000 after purchasing an additional 170 shares in the last quarter. Covestor Ltd grew its position in shares of Federal Signal by 223.6% in the first quarter. Covestor Ltd now owns 893 shares of the conglomerate’s stock valued at $76,000 after purchasing an additional 617 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Federal Signal during the second quarter worth about $84,000. Finally, Mather Group LLC. acquired a new position in shares of Federal Signal during the 1st quarter worth about $85,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, William Blair began coverage on Federal Signal in a report on Friday, May 31st. They issued an “outperform” rating on the stock.

Federal Signal Stock Up 0.4 %

Shares of FSS opened at $91.91 on Tuesday. The stock has a 50 day moving average price of $92.41 and a 200 day moving average price of $87.20. Federal Signal Co. has a one year low of $57.05 and a one year high of $102.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 2.89. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 31.05 and a beta of 0.94.

Federal Signal (NYSE:FSS) last issued its earnings results on Thursday, July 25th. The conglomerate reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.11. The business had revenue of $490.40 million during the quarter, compared to analysts’ expectations of $487.74 million. Federal Signal had a net margin of 11.16% and a return on equity of 18.31%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. Equities research analysts forecast that Federal Signal Co. will post 3.24 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 16th. Federal Signal’s dividend payout ratio (DPR) is 16.22%.

Insiders Place Their Bets

In other news, Director Brenda Reichelderfer sold 25,685 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 57,417 shares of the company’s stock, valued at approximately $5,339,206.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.