Gabelli Funds LLC Sells 400 Shares of Federal Signal Co. (NYSE:FSS)

Gabelli Funds LLC reduced its holdings in shares of Federal Signal Co. (NYSE:FSS) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,800 shares of the conglomerate’s stock after selling 400 shares during the quarter. Gabelli Funds LLC’s holdings in Federal Signal were worth $12,153,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Shelton Capital Management bought a new position in shares of Federal Signal during the 2nd quarter worth approximately $204,000. Russell Investments Group Ltd. grew its stake in shares of Federal Signal by 39.9% in the second quarter. Russell Investments Group Ltd. now owns 40,399 shares of the conglomerate’s stock valued at $2,587,000 after buying an additional 11,525 shares in the last quarter. US Bancorp DE grew its stake in shares of Federal Signal by 5.5% in the second quarter. US Bancorp DE now owns 4,768 shares of the conglomerate’s stock valued at $305,000 after buying an additional 248 shares in the last quarter. Nicholas Investment Partners LP bought a new position in shares of Federal Signal in the second quarter valued at $3,466,000. Finally, Cetera Advisor Networks LLC acquired a new stake in Federal Signal during the 2nd quarter valued at $205,000. 91.87% of the stock is owned by institutional investors.

Federal Signal Stock Up 1.8 %

FSS opened at $70.33 on Tuesday. Federal Signal Co. has a fifty-two week low of $43.44 and a fifty-two week high of $70.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.35 and a current ratio of 2.98. The company has a market capitalization of $4.29 billion, a P/E ratio of 29.43 and a beta of 1.04. The stock has a fifty day moving average of $61.07 and a 200-day moving average of $60.04.

Federal Signal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 16th. Federal Signal’s dividend payout ratio is currently 16.74%.

Insider Transactions at Federal Signal

In other news, COO Mark Weber sold 56,944 shares of Federal Signal stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.67, for a total transaction of $3,682,568.48. Following the completion of the sale, the chief operating officer now owns 47,857 shares of the company’s stock, valued at $3,094,912.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

FSS has been the subject of several research reports. DA Davidson downgraded Federal Signal from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $66.00 in a report on Monday, July 31st. StockNews.com raised Federal Signal from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.

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.