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.

Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, February 28th. The conglomerate reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $279.40 million during the quarter, compared to analysts’ expectations of $268.10 million. Federal Signal had a net margin of 8.63% and a return on equity of 17.44%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. On average, equities research analysts expect that Federal Signal Co. will post 1.55 EPS for the current fiscal year.

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.

ILLEGAL ACTIVITY NOTICE: This report was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.thecerbatgem.com/2019/04/16/bank-of-america-corp-de-has-8-82-million-stake-in-federal-signal-co-fss.html.

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.

Recommended Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Want to see what other hedge funds are holding FSS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Federal Signal Co. (NYSE:FSS).

Institutional Ownership by Quarter for Federal Signal (NYSE:FSS)

Receive News & Ratings for Federal Signal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Federal Signal and related companies with MarketBeat.com's FREE daily email newsletter.