Corebridge Financial Inc. Sells 2,506 Shares of Federal Signal Co. (NYSE:FSS)

Corebridge Financial Inc. reduced its position in Federal Signal Co. (NYSE:FSS) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,054 shares of the conglomerate’s stock after selling 2,506 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Federal Signal worth $2,961,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP lifted its position 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 purchasing an additional 183 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Federal Signal in the third quarter worth approximately $46,000. Signaturefd LLC lifted its holdings in Federal Signal by 37.4% during the fourth quarter. Signaturefd LLC now owns 606 shares of the conglomerate’s stock worth $56,000 after buying an additional 165 shares during the period. Millburn Ridgefield Corp purchased a new position in shares of Federal Signal in the 3rd quarter valued at $70,000. Finally, Mather Group LLC. raised its position in shares of Federal Signal by 20.1% in the 4th quarter. Mather Group LLC. now owns 889 shares of the conglomerate’s stock worth $82,000 after acquiring an additional 149 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Federal Signal Trading Down 2.2 %

Shares of NYSE:FSS opened at $73.51 on Tuesday. The business’s 50-day moving average is $88.34 and its 200 day moving average is $90.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.83 and a quick ratio of 1.36. Federal Signal Co. has a 1 year low of $73.05 and a 1 year high of $102.18. The firm has a market capitalization of $4.49 billion, a P/E ratio of 21.31, a P/E/G ratio of 1.85 and a beta of 1.02.

Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Wednesday, February 26th. The conglomerate reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The firm had revenue of $472.00 million for the quarter, compared to the consensus estimate of $481.90 million. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. On average, research analysts predict that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 14th were paid a dividend of $0.14 per share. This is an increase from Federal Signal’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, March 14th. Federal Signal’s payout ratio is presently 15.95%.

Insider Activity at Federal Signal

In other news, CEO Jennifer L. Sherman purchased 1,250 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $82.32 per share, for a total transaction of $102,900.00. Following the purchase, the chief executive officer now owns 559,183 shares in the company, valued at $46,031,944.56. This trade represents a 0.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FSS has been the topic of a number of recent research reports. StockNews.com downgraded Federal Signal from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st. Raymond James restated an “outperform” rating and issued a $110.00 price target on shares of Federal Signal in a report on Tuesday, December 24th.

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.