MML Investors Services LLC Sells 359 Shares of Federal Signal Co. (NYSE:FSS)

MML Investors Services LLC lessened its holdings in Federal Signal Co. (NYSE:FSS) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,446 shares of the conglomerate’s stock after selling 359 shares during the quarter. MML Investors Services LLC’s holdings in Federal Signal were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FSS. ArrowMark Colorado Holdings LLC acquired a new stake in Federal Signal in the third quarter valued at about $28,863,000. Assenagon Asset Management S.A. raised its stake in Federal Signal by 113.4% during the third quarter. Assenagon Asset Management S.A. now owns 398,031 shares of the conglomerate’s stock worth $37,200,000 after acquiring an additional 211,555 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Federal Signal by 77.8% in the second quarter. Millennium Management LLC now owns 445,776 shares of the conglomerate’s stock worth $37,298,000 after acquiring an additional 195,017 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of 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 purchasing an additional 153,765 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Federal Signal during the 2nd quarter valued at approximately $7,714,000. Institutional investors own 92.73% of the company’s stock.

Federal Signal Stock Up 0.4 %

Shares of NYSE FSS opened at $94.01 on Friday. The company has a 50 day simple moving average of $91.95 and a 200 day simple moving average of $90.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. Federal Signal Co. has a 1 year low of $71.29 and a 1 year high of $102.18. The firm has a market cap of $5.74 billion, a PE ratio of 27.25 and a beta of 0.99.

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

Federal Signal Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. Federal Signal’s dividend payout ratio (DPR) is presently 13.91%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSS. Raymond James reissued an “outperform” rating and issued a $110.00 price objective on shares of Federal Signal in a research note on Tuesday. StockNews.com downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, 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 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.