Nicholas Investment Partners LP Sells 20,884 Shares of Federal Signal Co. (NYSE:FSS)

Nicholas Investment Partners LP decreased its position in Federal Signal Co. (NYSE:FSS) by 31.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,092 shares of the conglomerate’s stock after selling 20,884 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.07% of Federal Signal worth $3,773,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FSS. Norges Bank bought a new position in Federal Signal during the fourth quarter worth $52,130,000. Axiom Investors LLC DE increased its position in Federal Signal by 189.5% during the fourth quarter. Axiom Investors LLC DE now owns 239,455 shares of the conglomerate’s stock worth $18,376,000 after acquiring an additional 156,755 shares during the period. PineStone Asset Management Inc. bought a new position in Federal Signal during the second quarter worth $11,982,000. F M Investments LLC bought a new position in Federal Signal during the second quarter worth $11,058,000. Finally, Eagle Asset Management Inc. increased its position in Federal Signal by 46.0% during the fourth quarter. Eagle Asset Management Inc. now owns 361,580 shares of the conglomerate’s stock worth $27,748,000 after acquiring an additional 113,955 shares during the period. Institutional investors own 92.73% of the company’s stock.

Insider Buying and Selling at Federal Signal

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 sale, the director now directly owns 57,417 shares in the company, valued at approximately $5,339,206.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Separately, William Blair started coverage on shares of Federal Signal in a research note on Friday, May 31st. They set an “outperform” rating on the stock.

Federal Signal Stock Up 2.1 %

FSS opened at $84.65 on Thursday. Federal Signal Co. has a fifty-two week low of $56.48 and a fifty-two week high of $102.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.89 and a quick ratio of 1.35. The firm’s fifty day moving average price is $92.01 and its two-hundred day moving average price is $86.72. The company has a market capitalization of $5.17 billion, a P/E ratio of 28.60 and a beta of 0.94.

Federal Signal (NYSE:FSS) last announced its quarterly earnings results on Thursday, July 25th. The conglomerate reported $0.95 EPS for the quarter, beating the consensus estimate of $0.84 by $0.11. Federal Signal had a return on equity of 18.31% and a net margin of 11.16%. The business had revenue of $490.40 million for the quarter, compared to analyst estimates of $487.74 million. During the same quarter in the previous year, the firm earned $0.67 EPS. Federal Signal’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that Federal Signal Co. will post 3.24 EPS for the current year.

Federal Signal Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, August 16th. Federal Signal’s dividend payout ratio is currently 16.22%.

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.