Federal Signal Corporation $FSS Stake Cut by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC decreased its holdings in Federal Signal Corporation by 2.4%, selling 8,743 shares, which leaves them with approximately 0.60% ownership valued at $26.7 million.
• The company's Q2 earnings report exceeded expectations, with an EPS of $1.17 compared to the consensus estimate of $1.06, and revenue experienced a 15.1% year-over-year increase.
• Federal Signal also announced a quarterly dividend of $0.14, reflecting an annual yield of 0.4%, with a payout ratio currently at 15.60%.

Fred Alger Management LLC decreased its holdings in Federal Signal Corporation (NYSE:FSS - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 362,996 shares of the conglomerate's stock after selling 8,743 shares during the quarter. Fred Alger Management LLC owned 0.60% of Federal Signal worth $26,698,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Federal Signal in the first quarter worth $297,000. NewEdge Advisors LLC boosted its stake in Federal Signal by 15.9% during the first quarter. NewEdge Advisors LLC now owns 1,838 shares of the conglomerate's stock valued at $135,000 after buying an additional 252 shares in the last quarter. Millennium Management LLC boosted its stake in Federal Signal by 63.0% during the first quarter. Millennium Management LLC now owns 503,120 shares of the conglomerate's stock valued at $37,004,000 after buying an additional 194,412 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Federal Signal by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,822 shares of the conglomerate's stock valued at $2,635,000 after buying an additional 1,594 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Federal Signal by 10.9% during the first quarter. AQR Capital Management LLC now owns 35,702 shares of the conglomerate's stock valued at $2,626,000 after buying an additional 3,520 shares in the last quarter. Institutional investors own 92.73% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on FSS shares. KeyCorp reaffirmed a "sector weight" rating on shares of Federal Signal in a research note on Friday, July 11th. Raymond James Financial raised their target price on Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. CJS Securities reaffirmed a "market perform" rating and set a $125.00 target price on shares of Federal Signal in a research note on Thursday, July 31st. DA Davidson increased their price target on Federal Signal from $100.00 to $112.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Federal Signal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $123.00.

Federal Signal Trading Down 1.8%

Shares of NYSE:FSS traded down $2.31 during midday trading on Friday, reaching $125.54. The company had a trading volume of 257,711 shares, compared to its average volume of 322,444. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 2.60. Federal Signal Corporation has a 1-year low of $66.47 and a 1-year high of $130.30. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 34.97, a price-to-earnings-growth ratio of 2.27 and a beta of 1.32. The company has a fifty day simple moving average of $119.85 and a two-hundred day simple moving average of $98.48.

Federal Signal (NYSE:FSS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The conglomerate reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.11. The business had revenue of $564.60 million during the quarter, compared to analyst estimates of $537.24 million. Federal Signal had a return on equity of 18.91% and a net margin of 11.22%.Federal Signal's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. Federal Signal has set its FY 2025 guidance at 3.920-4.100 EPS. Research analysts predict that Federal Signal Corporation will post 3.34 earnings per share for the current year.

Federal Signal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Friday, August 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 15th. Federal Signal's dividend payout ratio is currently 15.60%.

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.