Legacy Wealth Asset Management LLC Sells 898 Shares of Federal Signal Co. (NYSE:FSS)

Legacy Wealth Asset Management LLC trimmed its holdings in Federal Signal Co. (NYSE:FSS) by 6.4% in the 4th quarter, Holdings Channel reports. The fund owned 13,086 shares of the conglomerate’s stock after selling 898 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Federal Signal were worth $1,209,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Federal Signal in the third quarter worth about $29,000. Quarry LP grew its stake in shares of Federal Signal by 73.5% in the 3rd quarter. Quarry LP now owns 432 shares of the conglomerate’s stock worth $40,000 after buying an additional 183 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Federal Signal during the 3rd quarter valued at approximately $46,000. Point72 DIFC Ltd purchased a new position in Federal Signal during the second quarter valued at $62,000. Finally, Millburn Ridgefield Corp bought a new stake in Federal Signal in the third quarter worth $70,000. 92.73% of the stock is currently owned by institutional investors.

Federal Signal Stock Performance

Shares of FSS opened at $97.88 on Friday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 28.37 and a beta of 1.01. The business’s fifty day simple moving average is $94.49 and its two-hundred day simple moving average is $91.89. Federal Signal Co. has a 12 month low of $72.48 and a 12 month high of $102.18. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.19.

Federal Signal (NYSE:FSS) last released its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The company had revenue of $474.20 million during the quarter, compared to the consensus estimate of $481.71 million. During the same period last year, the company earned $0.71 EPS. Federal Signal’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts anticipate 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 was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. Federal Signal’s payout ratio is 13.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FSS. StockNews.com upgraded Federal Signal from a “hold” rating to a “buy” rating in a report on Saturday, December 28th. Raymond James restated an “outperform” rating and set a $110.00 price objective on shares of Federal Signal in a research note on Tuesday, December 24th. Finally, DA Davidson decreased their target price on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th.

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.