Bank of America Corp DE Has $8.82 Million Stake in Federal Signal Co. (FSS)
Bank of America Corp DE lifted its holdings in shares of Federal Signal Co. (NYSE:FSS) by 38.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 443,382 shares of the conglomerate’s stock after purchasing an additional 123,299 shares during the quarter. Bank of America Corp DE’s holdings in Federal Signal were worth $8,822,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Stone Ridge Asset Management LLC lifted its holdings in Federal Signal by 49.3% during the 4th quarter. Stone Ridge Asset Management LLC now owns 40,175 shares of the conglomerate’s stock valued at $799,000 after purchasing an additional 13,260 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Federal Signal by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 846,360 shares of the conglomerate’s stock valued at $22,666,000 after purchasing an additional 36,575 shares during the last quarter. Verition Fund Management LLC bought a new position in Federal Signal during the 3rd quarter valued at about $358,000. Algert Global LLC lifted its holdings in Federal Signal by 2.3% during the 4th quarter. Algert Global LLC now owns 137,673 shares of the conglomerate’s stock valued at $2,740,000 after purchasing an additional 3,044 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Federal Signal by 25.8% during the 3rd quarter. Macquarie Group Ltd. now owns 2,215,001 shares of the conglomerate’s stock valued at $59,318,000 after purchasing an additional 454,690 shares during the last quarter. 89.80% of the stock is owned by institutional investors.
Shares of FSS stock opened at $26.82 on Tuesday. Federal Signal Co. has a 12-month low of $18.59 and a 12-month high of $28.32. The stock has a market cap of $1.62 billion, a P/E ratio of 18.76 and a beta of 1.44. The company has a quick ratio of 1.08, a current ratio of 2.07 and a debt-to-equity ratio of 0.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Friday, March 15th. Federal Signal’s payout ratio is presently 22.38%.
Separately, Zacks Investment Research raised shares of Federal Signal from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Monday, March 4th.
In other Federal Signal news, Director Dennis J. Martin sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $24.87, for a total value of $1,492,200.00. Following the completion of the sale, the director now owns 250,080 shares in the company, valued at approximately $6,219,489.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.00% of the company’s stock.
Federal Signal Company Profile
Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.
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