Principal Financial Group Inc. Sells 9,884 Shares of Federal Signal Co. (NYSE:FSS)

Principal Financial Group Inc. lessened its position in shares of Federal Signal Co. (NYSE:FSS) by 3.1% in the third quarter, HoldingsChannel reports. The fund owned 312,170 shares of the conglomerate’s stock after selling 9,884 shares during the period. Principal Financial Group Inc.’s holdings in Federal Signal were worth $29,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FSS. Bank of New York Mellon Corp boosted its stake in Federal Signal by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 524,869 shares of the conglomerate’s stock valued at $43,916,000 after purchasing an additional 11,685 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Federal Signal by 2.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,996 shares of the conglomerate’s stock valued at $1,171,000 after acquiring an additional 329 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Federal Signal by 14.5% in the second quarter. Panagora Asset Management Inc. now owns 271,463 shares of the conglomerate’s stock valued at $22,713,000 after acquiring an additional 34,365 shares in the last quarter. F M Investments LLC bought a new position in Federal Signal during the second quarter worth about $11,058,000. Finally, Spire Wealth Management raised its stake in Federal Signal by 6.8% in the 2nd quarter. Spire Wealth Management now owns 11,403 shares of the conglomerate’s stock worth $954,000 after purchasing an additional 723 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Trading Up 3.2 %

Shares of Federal Signal stock opened at $93.59 on Wednesday. The firm’s 50-day moving average price is $91.94 and its two-hundred day moving average price is $90.83. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 27.13 and a beta of 0.99. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. Federal Signal Co. has a 12-month low of $71.29 and a 12-month high of $102.18.

Federal Signal (NYSE:FSS) last issued its earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm had revenue of $474.20 million for the quarter, compared to the consensus estimate of $481.71 million. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 15th. Federal Signal’s payout ratio is 13.91%.

Analyst Upgrades and Downgrades

FSS has been the topic of a number of analyst reports. DA Davidson decreased their target price on shares of Federal Signal from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Raymond James reissued an “outperform” rating and set a $110.00 price target on shares of Federal Signal in a research report on Tuesday. Finally, StockNews.com cut Federal Signal from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

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.