Harvest Fund Management Co. Ltd Lowers Stock Position in Federal Signal Co. (NYSE:FSS)

Harvest Fund Management Co. Ltd reduced its position in Federal Signal Co. (NYSE:FSS) by 43.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,513 shares of the conglomerate’s stock after selling 1,173 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Federal Signal were worth $141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd raised its holdings in shares of Federal Signal by 105.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 15,300 shares of the conglomerate’s stock worth $1,430,000 after purchasing an additional 7,850 shares during the period. Algert Global LLC raised its holdings in Federal Signal by 45.8% in the third quarter. Algert Global LLC now owns 65,977 shares of the conglomerate’s stock valued at $6,166,000 after buying an additional 20,730 shares during the period. Cerity Partners LLC lifted its position in Federal Signal by 12.8% during the third quarter. Cerity Partners LLC now owns 44,712 shares of the conglomerate’s stock valued at $4,179,000 after buying an additional 5,070 shares in the last quarter. Citigroup Inc. grew its stake in Federal Signal by 39.3% during the third quarter. Citigroup Inc. now owns 82,664 shares of the conglomerate’s stock worth $7,726,000 after buying an additional 23,310 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of Federal Signal by 7.7% in the third quarter. Raymond James Trust N.A. now owns 3,038 shares of the conglomerate’s stock worth $284,000 after acquiring an additional 216 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their target price on shares of 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 Stock Performance

Shares of NYSE:FSS opened at $97.87 on Thursday. The business’s 50-day simple moving average is $90.41 and its 200 day simple moving average is $89.62. The company has a market cap of $5.98 billion, a P/E ratio of 28.37 and a beta of 0.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.36 and a current ratio of 2.83. Federal Signal Co. has a one year low of $68.02 and a one year high of $102.18.

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

Federal Signal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.12 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 0.49%. Federal Signal’s payout ratio is currently 13.91%.

Insider Activity

In other news, Director Brenda Reichelderfer sold 25,685 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $92.99, for a total transaction of $2,388,448.15. Following the completion of the transaction, the director now directly owns 57,417 shares in the company, valued at approximately $5,339,206.83. This represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

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.