Victory Capital Management Inc. Grows Position in Federal Signal Co. (NYSE:FSS)

Victory Capital Management Inc. increased its holdings in shares of Federal Signal Co. (NYSE:FSS) by 299.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,012 shares of the conglomerate’s stock after buying an additional 89,225 shares during the period. Victory Capital Management Inc. owned about 0.19% of Federal Signal worth $11,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Federal Signal during the 3rd quarter valued at approximately $29,000. Point72 DIFC Ltd acquired a new position in Federal Signal in the 2nd quarter valued at $62,000. Covestor Ltd raised its stake in Federal Signal by 223.6% in the 1st quarter. Covestor Ltd now owns 893 shares of the conglomerate’s stock valued at $76,000 after purchasing an additional 617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Federal Signal in the 2nd quarter valued at $84,000. Finally, GAMMA Investing LLC increased its stake in shares of Federal Signal by 60.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,062 shares of the conglomerate’s stock worth $89,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Federal Signal Stock Up 0.3 %

Shares of NYSE:FSS opened at $91.66 on Thursday. The business has a 50-day moving average price of $89.36 and a 200 day moving average price of $89.23. 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 company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 26.24 and a beta of 0.95. Federal Signal Co. has a 12-month low of $68.02 and a 12-month high of $102.18.

Federal Signal (NYSE:FSS) last issued its quarterly earnings data 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. 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 company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. Sell-side analysts expect that Federal Signal Co. will post 3.34 EPS for the current 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, November 15th. Federal Signal’s dividend payout ratio (DPR) is 13.91%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson cut their target price on Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th.

Insider Activity at Federal Signal

In other news, Director Brenda Reichelderfer sold 25,685 shares of Federal Signal stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $92.99, for a total value of $2,388,448.15. Following the completion of the transaction, the director now owns 57,417 shares in the company, valued at approximately $5,339,206.83. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

About Federal Signal

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.