Alta Capital Management LLC Sells 30,018 Shares of Federal Signal Corporation $FSS
by Michael Walen · The Markets DailyAlta Capital Management LLC lowered its stake in Federal Signal Corporation (NYSE:FSS – Free Report) by 28.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,241 shares of the conglomerate’s stock after selling 30,018 shares during the quarter. Alta Capital Management LLC’s holdings in Federal Signal were worth $8,834,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in shares of Federal Signal in the third quarter worth $108,884,000. Norges Bank purchased a new position in shares of Federal Signal in the 2nd quarter worth about $79,165,000. First Trust Advisors LP boosted its stake in Federal Signal by 49.6% in the 2nd quarter. First Trust Advisors LP now owns 1,501,431 shares of the conglomerate’s stock worth $159,782,000 after purchasing an additional 497,652 shares in the last quarter. Greenvale Capital LLP purchased a new stake in Federal Signal during the 2nd quarter valued at about $25,491,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Federal Signal during the 3rd quarter valued at about $23,037,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Federal Signal in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Federal Signal currently has a consensus rating of “Hold” and a consensus price target of $123.00.
Read Our Latest Stock Report on FSS
Insider Transactions at Federal Signal
In related news, COO Mark Weber sold 51,187 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $111.56, for a total value of $5,710,421.72. Following the sale, the chief operating officer owned 73,874 shares in the company, valued at approximately $8,241,383.44. This trade represents a 40.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.
Federal Signal Stock Performance
Shares of NYSE FSS opened at $110.11 on Wednesday. The firm’s 50-day moving average price is $112.47 and its 200-day moving average price is $117.29. Federal Signal Corporation has a 52-week low of $66.47 and a 52-week high of $132.89. The company has a market cap of $6.70 billion, a PE ratio of 28.75, a PEG ratio of 1.74 and a beta of 1.35. The company has a quick ratio of 1.25, a current ratio of 2.61 and a debt-to-equity ratio of 0.15.
Federal Signal Company Profile
Federal Signal Corporation (NYSE: FSS), headquartered in Oak Brook, Illinois, is a diversified industrial company that designs, manufactures and markets a broad range of products and services for municipal, commercial and industrial customers worldwide. Founded in 1901 in Chicago, the company has grown through a combination of organic investment and strategic acquisitions to become a leading provider of environmental management and safety and security solutions.
Federal Signal operates through two primary business segments.
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