Federal Signal Co. (FSS) Short Interest Down 60.8% in December
Federal Signal Co. (NYSE:FSS) saw a significant decline in short interest in the month of December. As of December 29th, there was short interest totalling 246,383 shares, a decline of 60.8% from the December 15th total of 629,043 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 172,992 shares, the days-to-cover ratio is currently 1.4 days.
In other news, Director Dennis J. Martin sold 45,172 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $21.90, for a total value of $989,266.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Goodwin sold 10,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $20.67, for a total transaction of $206,700.00. Following the completion of the sale, the director now directly owns 122,929 shares of the company’s stock, valued at approximately $2,540,942.43. The disclosure for this sale can be found here. In the last three months, insiders sold 110,172 shares of company stock valued at $2,338,207. 4.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new position in shares of Federal Signal in the third quarter worth about $120,000. Pinebridge Investments L.P. lifted its holdings in shares of Federal Signal by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock worth $137,000 after acquiring an additional 86 shares during the last quarter. First Quadrant L P CA bought a new position in shares of Federal Signal in the third quarter worth about $187,000. SG Americas Securities LLC bought a new position in shares of Federal Signal in the third quarter worth about $212,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Federal Signal in the third quarter worth about $241,000. 84.10% of the stock is owned by institutional investors and hedge funds.
Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Federal Signal had a net margin of 5.30% and a return on equity of 11.39%. The business had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $240.30 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Federal Signal’s revenue was up 33.4% compared to the same quarter last year. analysts expect that Federal Signal will post 0.81 EPS for the current fiscal year.
FSS has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Federal Signal from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Thursday, September 21st. ValuEngine cut shares of Federal Signal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.50.
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About Federal Signal
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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