Freestone Grove Partners LP Acquires Shares of 4,867 Federal Signal Co. (NYSE:FSS)

Freestone Grove Partners LP purchased a new position in shares of Federal Signal Co. (NYSE:FSS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,867 shares of the conglomerate's stock, valued at approximately $450,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Federal Signal in the 3rd quarter valued at about $46,000. Signaturefd LLC grew its stake in Federal Signal by 37.4% in the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate's stock worth $56,000 after purchasing an additional 165 shares in the last quarter. Mather Group LLC. increased 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 purchasing an additional 149 shares during the period. Steward Partners Investment Advisory LLC raised its position in Federal Signal by 15.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,343 shares of the conglomerate's stock valued at $124,000 after purchasing an additional 181 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Federal Signal by 182.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,379 shares of the conglomerate's stock worth $127,000 after buying an additional 891 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Federal Signal Stock Down 0.0 %

Shares of FSS stock traded down $0.04 during trading hours on Friday, reaching $89.55. 153,634 shares of the company's stock were exchanged, compared to its average volume of 435,366. Federal Signal Co. has a fifty-two week low of $66.47 and a fifty-two week high of $102.18. The stock's 50 day moving average is $77.56 and its 200-day moving average is $87.95. 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 company has a market cap of $5.46 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.85 and a beta of 1.23.

Federal Signal (NYSE:FSS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The conglomerate reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The business had revenue of $463.80 million during the quarter, compared to the consensus estimate of $462.63 million. During the same quarter last year, the company earned $0.64 earnings per share. The company's quarterly revenue was up 9.2% on a year-over-year basis. Analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 16th. This represents a $0.56 annualized dividend and a dividend yield of 0.63%. Federal Signal's payout ratio is currently 16.37%.

Federal Signal announced that its Board of Directors has approved a share repurchase program on Tuesday, April 22nd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on FSS shares. Raymond James lowered their price objective 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. DA Davidson lifted their price objective on shares of Federal Signal from $82.00 to $84.00 and gave the company a "neutral" rating in a report on Monday. Finally, StockNews.com cut Federal Signal from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Insider Activity

In other Federal Signal news, CEO Jennifer L. Sherman bought 1,250 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 559,183 shares of the company's stock, valued at approximately $46,031,944.56. This trade represents a 0.22 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company's stock.

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.