Fred Alger Management LLC Acquires 33,556 Shares of Federal Signal Co. (NYSE:FSS)

Fred Alger Management LLC grew its stake in Federal Signal Co. (NYSE:FSS - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,739 shares of the conglomerate's stock after acquiring an additional 33,556 shares during the period. Fred Alger Management LLC owned 0.61% of Federal Signal worth $34,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. CoreCap Advisors LLC raised its position in Federal Signal by 19.9% in the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock worth $81,000 after purchasing an additional 145 shares during the last quarter. Mather Group LLC. increased its stake in shares of Federal Signal by 20.1% in the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate's stock valued at $82,000 after buying an additional 149 shares during the period. Arizona State Retirement System raised its position in shares of Federal Signal by 0.9% during the fourth quarter. Arizona State Retirement System now owns 17,746 shares of the conglomerate's stock worth $1,640,000 after acquiring an additional 152 shares during the last quarter. Albion Financial Group UT raised its position in shares of Federal Signal by 1.3% during the fourth quarter. Albion Financial Group UT now owns 12,126 shares of the conglomerate's stock worth $1,120,000 after acquiring an additional 153 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Federal Signal by 37.4% during the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock valued at $56,000 after acquiring an additional 165 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Federal Signal Trading Up 0.9%

Shares of Federal Signal stock traded up $0.84 during trading hours on Tuesday, hitting $94.47. The company's stock had a trading volume of 162,980 shares, compared to its average volume of 434,562. Federal Signal Co. has a 12 month low of $66.47 and a 12 month high of $102.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. The company has a market capitalization of $5.76 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. The stock has a 50 day moving average of $78.00 and a 200 day moving average of $88.09.

Federal Signal (NYSE:FSS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The firm had revenue of $463.80 million for the quarter, compared to the consensus estimate of $462.63 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 9.2% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.14 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.59%. Federal Signal's dividend payout ratio (DPR) is 16.37%.

Federal Signal declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 22nd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

FSS has been the subject of several recent research reports. DA Davidson boosted their price objective on Federal Signal from $82.00 to $84.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Raymond James dropped their price target on shares of Federal Signal from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of Federal Signal from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. Finally, KeyCorp upgraded Federal Signal from a "sector weight" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Insider Transactions at Federal Signal

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