Fred Alger Management LLC Sells 8,743 Shares of Federal Signal Corporation $FSS

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 lowered its position in Federal Signal Corporation (NYSE:FSS - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 362,996 shares of the conglomerate's stock after selling 8,743 shares during the quarter. Fred Alger Management LLC owned approximately 0.60% of Federal Signal worth $26,698,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Federal Signal during the 1st quarter worth about $29,000. Bessemer Group Inc. increased its holdings in Federal Signal by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 421 shares of the conglomerate's stock valued at $31,000 after buying an additional 185 shares during the period. Harbor Investment Advisory LLC increased its holdings in Federal Signal by 201.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 658 shares of the conglomerate's stock valued at $48,000 after buying an additional 440 shares during the period. CoreCap Advisors LLC increased its holdings in Federal Signal by 19.9% in the 4th quarter. CoreCap Advisors LLC now owns 875 shares of the conglomerate's stock valued at $81,000 after buying an additional 145 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its holdings in Federal Signal by 16.9% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,119 shares of the conglomerate's stock valued at $82,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

Federal Signal Stock Down 1.8%

FSS stock traded down $2.31 during midday trading on Friday, reaching $125.54. 151,191 shares of the company's stock traded hands, compared to its average volume of 561,200. Federal Signal Corporation has a 52 week low of $66.47 and a 52 week high of $130.30. The company has a quick ratio of 1.25, a current ratio of 2.60 and a debt-to-equity ratio of 0.20. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 2.24 and a beta of 1.32. The firm's fifty day moving average price is $119.64 and its 200-day moving average price is $98.12.

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

Federal Signal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Friday, August 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 15th. Federal Signal's dividend payout ratio (DPR) is currently 15.60%.

Analysts Set New Price Targets

Several research firms have commented on FSS. KeyCorp reissued a "sector weight" rating on shares of Federal Signal in a report on Friday, July 11th. Raymond James Financial lifted their price target on shares of Federal Signal from $120.00 to $145.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. DA Davidson lifted their target price on shares of Federal Signal from $100.00 to $112.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. CJS Securities reiterated a "market perform" rating and set a $125.00 target price on shares of Federal Signal in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $123.00.

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.