Gabelli Funds LLC Lowers Holdings in Federal Signal Co. (NYSE:FSS)

Gabelli Funds LLC trimmed its position in Federal Signal Co. (NYSE:FSS) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,800 shares of the conglomerate’s stock after selling 400 shares during the period. Gabelli Funds LLC owned approximately 0.31% of Federal Signal worth $12,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSS. FSC Wealth Advisors LLC purchased a new position in Federal Signal in the 2nd quarter valued at $45,000. Point72 Hong Kong Ltd purchased a new position in Federal Signal in the 1st quarter valued at $51,000. Lazard Asset Management LLC purchased a new position in Federal Signal in the 1st quarter valued at $52,000. Point72 Middle East FZE purchased a new position in Federal Signal in the 4th quarter valued at $95,000. Finally, PNC Financial Services Group Inc. grew its position in Federal Signal by 9.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,216 shares of the conglomerate’s stock valued at $142,000 after buying an additional 376 shares during the last quarter. 91.87% of the stock is currently owned by hedge funds and other institutional investors.

Federal Signal Trading Up 1.8 %

NYSE:FSS opened at $70.33 on Tuesday. The company has a market capitalization of $4.29 billion, a PE ratio of 29.43 and a beta of 1.04. The company has a quick ratio of 1.35, a current ratio of 2.98 and a debt-to-equity ratio of 0.38. Federal Signal Co. has a 52-week low of $43.44 and a 52-week high of $70.38. The stock has a fifty day simple moving average of $61.07 and a 200-day simple moving average of $60.04.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 16th. Federal Signal’s payout ratio is 16.74%.

Analyst Upgrades and Downgrades

FSS has been the subject of a number of recent analyst reports. DA Davidson downgraded Federal Signal from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $66.00 in a report on Monday, July 31st. StockNews.com raised Federal Signal from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th.

Insider Activity at Federal Signal

In other Federal Signal news, COO Mark Weber sold 56,944 shares of Federal Signal stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $64.67, for a total value of $3,682,568.48. Following the completion of the sale, the chief operating officer now owns 47,857 shares in the company, valued at approximately $3,094,912.19. 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 corporate insiders.

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.