Victory Capital Management Inc. Sells 18,789 Shares of Federal Signal Co. (NYSE:FSS)

Victory Capital Management Inc. lowered its stake in shares of Federal Signal Co. (NYSE:FSS – Get Rating) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 463,065 shares of the conglomerate’s stock after selling 18,789 shares during the period. Victory Capital Management Inc. owned 0.76% of Federal Signal worth $21,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FORA Capital LLC acquired a new position in shares of Federal Signal during the 4th quarter worth approximately $342,000. ProShare Advisors LLC increased its holdings in shares of Federal Signal by 14.8% during the 4th quarter. ProShare Advisors LLC now owns 9,455 shares of the conglomerate’s stock worth $439,000 after acquiring an additional 1,220 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of Federal Signal by 14.2% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 600,960 shares of the conglomerate’s stock worth $22,428,000 after acquiring an additional 74,500 shares during the last quarter. Bellecapital International Ltd. increased its holdings in shares of Federal Signal by 1.1% during the 3rd quarter. Bellecapital International Ltd. now owns 21,682 shares of the conglomerate’s stock worth $809,000 after acquiring an additional 230 shares during the last quarter. Finally, Watchman Group Inc. increased its holdings in shares of Federal Signal by 1.4% during the 4th quarter. Watchman Group Inc. now owns 58,430 shares of the conglomerate’s stock worth $2,715,000 after acquiring an additional 805 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com started coverage on Federal Signal in a report on Thursday. They set a “hold” rating on the stock. Sidoti lowered Federal Signal from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Thursday, February 23rd. Raymond James upped their price objective on Federal Signal from $57.00 to $68.00 and gave the company a “strong-buy” rating in a report on Thursday, March 2nd. Finally, DA Davidson upped their price objective on Federal Signal from $54.00 to $68.00 in a report on Thursday, March 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.25.

Federal Signal Stock Performance

NYSE:FSS opened at $54.60 on Monday. The stock has a fifty day moving average price of $52.02 and a 200-day moving average price of $50.72. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 26.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 2.79. Federal Signal Co. has a fifty-two week low of $32.42 and a fifty-two week high of $58.15.

Federal Signal (NYSE:FSS – Get Rating) last released its earnings results on Tuesday, May 2nd. The conglomerate reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $385.50 million during the quarter, compared to the consensus estimate of $370.61 million. Federal Signal had a return on equity of 15.06% and a net margin of 8.54%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. As a group, equities analysts anticipate that Federal Signal Co. will post 2.37 EPS for the current fiscal year.

Federal Signal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a dividend of $0.10 per share. This is an increase from Federal Signal’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, May 18th. Federal Signal’s dividend payout ratio is currently 19.14%.

Insider Buying and Selling

In related news, CFO Ian A. Hudson sold 9,343 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $52.53, for a total transaction of $490,787.79. Following the completion of the sale, the chief financial officer now directly owns 70,651 shares in the company, valued at approximately $3,711,297.03. The sale was disclosed in a filing with the SEC, which is available through this link. In other Federal Signal news, CFO Ian A. Hudson sold 49,330 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $51.78, for a total value of $2,554,307.40. Following the completion of the transaction, the chief financial officer now directly owns 70,651 shares in the company, valued at $3,658,308.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ian A. Hudson sold 9,343 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $52.53, for a total value of $490,787.79. Following the completion of the transaction, the chief financial officer now owns 70,651 shares of the company’s stock, valued at $3,711,297.03. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Federal Signal Profile

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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.