TD Asset Management Inc Purchases 7,608 Shares of Federal Signal Co. (NYSE:FSS)

TD Asset Management Inc increased its holdings in Federal Signal Co. (NYSE:FSS) by 12.4% during the 2nd quarter, Holdings Channel reports. The firm owned 69,186 shares of the conglomerate’s stock after buying an additional 7,608 shares during the period. TD Asset Management Inc’s holdings in Federal Signal were worth $5,789,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FSS. Norges Bank bought a new stake in shares of Federal Signal in the 4th quarter worth approximately $52,130,000. Axiom Investors LLC DE lifted its stake in Federal Signal by 189.5% in the fourth quarter. Axiom Investors LLC DE now owns 239,455 shares of the conglomerate’s stock worth $18,376,000 after acquiring an additional 156,755 shares during the period. PineStone Asset Management Inc. bought a new stake in Federal Signal in the second quarter valued at $11,982,000. F M Investments LLC purchased a new position in Federal Signal during the 2nd quarter valued at $11,058,000. Finally, Eagle Asset Management Inc. raised its holdings in Federal Signal by 46.0% in the 4th quarter. Eagle Asset Management Inc. now owns 361,580 shares of the conglomerate’s stock worth $27,748,000 after purchasing an additional 113,955 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Federal Signal Stock Up 2.1 %

FSS stock opened at $84.65 on Thursday. Federal Signal Co. has a fifty-two week low of $56.48 and a fifty-two week high of $102.18. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 28.60 and a beta of 0.94. The business’s 50 day moving average price is $92.01 and its two-hundred day moving average price is $86.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 2.89.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Thursday, July 25th. The conglomerate reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $490.40 million for the quarter, compared to analyst estimates of $487.74 million. Federal Signal had a return on equity of 18.31% and a net margin of 11.16%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. As a group, analysts forecast that Federal Signal Co. will post 3.24 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Federal Signal’s payout ratio is 16.22%.

Wall Street Analysts Forecast Growth

Separately, William Blair initiated coverage on shares of Federal Signal in a research note on Friday, May 31st. They set an “outperform” rating on the stock.

Insider Activity at Federal Signal

In other Federal Signal news, Director Brenda Reichelderfer sold 25,685 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $92.99, for a total value of $2,388,448.15. Following the sale, the director now owns 57,417 shares in the company, valued at $5,339,206.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by corporate 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.