Oppenheimer Asset Management Inc. Has $1.28 Million Stake in Federal Signal Co. (NYSE:FSS)

Oppenheimer Asset Management Inc. lowered its position in Federal Signal Co. (NYSE:FSS) by 17.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,686 shares of the conglomerate’s stock after selling 2,818 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Federal Signal were worth $1,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Federal Signal in the 3rd quarter valued at $29,000. Point72 DIFC Ltd acquired a new stake in shares of Federal Signal in the second quarter valued at $62,000. Covestor Ltd raised its holdings in shares of Federal Signal by 223.6% in the first quarter. Covestor Ltd now owns 893 shares of the conglomerate’s stock valued at $76,000 after buying an additional 617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Federal Signal during the 2nd quarter worth about $84,000. Finally, GAMMA Investing LLC grew its holdings in Federal Signal by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,062 shares of the conglomerate’s stock worth $89,000 after acquiring an additional 400 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Federal Signal Stock Down 1.6 %

Shares of NYSE FSS opened at $89.31 on Monday. 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 firm has a market capitalization of $5.46 billion, a PE ratio of 25.89 and a beta of 0.95. The firm’s 50-day moving average is $89.04 and its 200-day moving average is $89.04. Federal Signal Co. has a 1 year low of $68.02 and a 1 year high of $102.18.

Federal Signal (NYSE:FSS) last released its earnings results on Thursday, October 31st. The conglomerate reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $474.20 million during the quarter, compared to analyst estimates of $481.71 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 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Equities analysts expect that Federal Signal Co. will post 3.34 EPS for the current year.

Federal Signal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 15th. Federal Signal’s dividend payout ratio is currently 13.91%.

Insider Buying and Selling

In related news, Director Brenda Reichelderfer sold 25,685 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $92.99, for a total transaction of $2,388,448.15. Following the completion of the sale, the director now directly owns 57,417 shares of the company’s stock, valued at approximately $5,339,206.83. This represents a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their target price on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th.

Federal Signal Company 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.