Citigroup Inc. Purchases 23,310 Shares of Federal Signal Co. (NYSE:FSS)

Citigroup Inc. boosted its position in Federal Signal Co. (NYSE:FSS) by 39.3% during the 3rd quarter, Holdings Channel reports. The fund owned 82,664 shares of the conglomerate’s stock after buying an additional 23,310 shares during the period. Citigroup Inc.’s holdings in Federal Signal were worth $7,726,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its holdings in shares of Federal Signal by 2.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,389,045 shares of the conglomerate’s stock worth $129,820,000 after purchasing an additional 35,167 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in Federal Signal by 20.3% during the second quarter. Driehaus Capital Management LLC now owns 912,392 shares of the conglomerate’s stock worth $76,340,000 after buying an additional 153,765 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Federal Signal by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,047 shares of the conglomerate’s stock valued at $71,875,000 after buying an additional 31,517 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Federal Signal by 1.5% in the third quarter. Global Alpha Capital Management Ltd. now owns 602,613 shares of the conglomerate’s stock valued at $56,320,000 after buying an additional 9,100 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Federal Signal by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 524,869 shares of the conglomerate’s stock valued at $43,916,000 after buying an additional 11,685 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Trading Down 0.3 %

Shares of Federal Signal stock opened at $97.56 on Friday. The company has a market capitalization of $5.96 billion, a P/E ratio of 28.28 and a beta of 0.95. The stock has a fifty day simple moving average of $90.65 and a 200 day simple moving average of $89.75. Federal Signal Co. has a 12-month low of $68.02 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 posted its earnings results on Thursday, October 31st. The conglomerate reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. Federal Signal had a net margin of 11.57% and a return on equity of 18.46%. The firm had revenue of $474.20 million during the quarter, compared to analyst estimates of $481.71 million. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Federal Signal Co. will post 3.34 earnings per share for the current fiscal year.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. Federal Signal’s dividend payout ratio is currently 13.91%.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target 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.

About Federal Signal

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.