Summit Global Investments Sells 5,211 Shares of Federal Signal Co. (NYSE:FSS)

Summit Global Investments trimmed its position in Federal Signal Co. (NYSE:FSS) by 65.1% in the fourth quarter, Holdings Channel reports. The fund owned 2,788 shares of the conglomerate’s stock after selling 5,211 shares during the quarter. Summit Global Investments’ holdings in Federal Signal were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FSS. Quarry LP increased its position in Federal Signal by 73.5% in the 3rd quarter. Quarry LP now owns 432 shares of the conglomerate’s stock valued at $40,000 after acquiring an additional 183 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Federal Signal in the third quarter valued at $46,000. Signaturefd LLC raised its position in Federal Signal by 37.4% during the 4th quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock worth $56,000 after purchasing an additional 165 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Federal Signal during the 3rd quarter worth about $70,000. Finally, Mather Group LLC. lifted its holdings in Federal Signal by 20.1% during the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate’s stock worth $82,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FSS. StockNews.com downgraded Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Raymond James restated an “outperform” rating and set a $110.00 price target on shares of Federal Signal in a report on Tuesday, December 24th.

Federal Signal Stock Performance

Shares of FSS opened at $79.17 on Wednesday. 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 firm’s fifty day simple moving average is $89.95 and its two-hundred day simple moving average is $91.10. Federal Signal Co. has a 12 month low of $74.23 and a 12 month high of $102.18. The stock has a market capitalization of $4.84 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.85 and a beta of 1.02.

Federal Signal (NYSE:FSS) last announced its earnings results on Wednesday, February 26th. The conglomerate reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $472.00 million for the quarter, compared to analyst estimates of $481.90 million. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. As a group, analysts predict that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 14th will be given a dividend of $0.14 per share. This is an increase from Federal Signal’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, March 14th. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. Federal Signal’s dividend payout ratio (DPR) is 15.95%.

Insider Activity

In related news, CEO Jennifer L. Sherman purchased 1,250 shares of Federal Signal stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $82.32 per share, for a total transaction of $102,900.00. Following the completion of the acquisition, the chief executive officer now owns 559,183 shares of the company’s stock, valued at $46,031,944.56. This trade represents a 0.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.30% of the stock is currently owned by company 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.