Gorman-Rupp Company (The) $GRC Shares Newly Purchased by Livelsberger Financial Advisory

Livelsberger Financial Advisory bought a new stake in Gorman-Rupp Company (The) (NYSE:GRC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,445 shares of the industrial products company’s stock, valued at approximately $852,000. Gorman-Rupp comprises 4.6% of Livelsberger Financial Advisory’s investment portfolio, making the stock its 4th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Gorman-Rupp during the 2nd quarter worth approximately $165,116,000. Legal & General Group Plc purchased a new stake in Gorman-Rupp during the second quarter worth $33,565,000. First Trust Advisors LP grew its holdings in Gorman-Rupp by 326.1% in the first quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock valued at $32,581,000 after purchasing an additional 401,340 shares during the last quarter. Bank of America Corp DE acquired a new stake in Gorman-Rupp in the second quarter valued at $28,291,000. Finally, Bank of New York Mellon Corp acquired a new stake in Gorman-Rupp in the second quarter valued at $16,235,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gorman-Rupp

In related news, VP D. Patrick Wischmeier sold 5,153 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total transaction of $399,975.86. Following the transaction, the vice president directly owned 1,409 shares of the company’s stock, valued at approximately $109,366.58. The trade was a 78.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

GRC has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, September 9th. Zacks Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Gorman-Rupp currently has a consensus rating of “Hold”.

Gorman-Rupp Price Performance

GRC opened at $74.32 on Friday. Gorman-Rupp Company has a 1 year low of $42.31 and a 1 year high of $92.78. The company’s 50 day simple moving average is $74.54 and its 200 day simple moving average is $72.22. The stock has a market capitalization of $1.96 billion, a PE ratio of 26.54, a P/E/G ratio of 2.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.82 and a current ratio of 2.70.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Friday, October 23rd. The industrial products company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.16. The business had revenue of $193.25 million for the quarter, compared to analyst estimates of $181.55 million. Gorman-Rupp had a return on equity of 17.13% and a net margin of 10.20%. As a group, sell-side analysts expect that Gorman-Rupp Company will post 2.88 EPS for the current year.

Gorman-Rupp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 13th. Gorman-Rupp’s dividend payout ratio is 27.14%.

Gorman-Rupp Profile

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.