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

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

Several other institutional investors also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Gorman-Rupp during the second quarter valued at approximately $28,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gorman-Rupp in the 2nd quarter worth approximately $36,000. TD Waterhouse Canada Inc. grew its holdings in Gorman-Rupp by 374.0% in the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 389 shares during the last quarter. GAMMA Investing LLC increased its position in Gorman-Rupp by 34.3% during the 3rd quarter. GAMMA Investing LLC now owns 599 shares of the industrial products company’s stock valued at $45,000 after buying an additional 153 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Gorman-Rupp during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Stock Down 0.7%

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

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

Gorman-Rupp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. This is a positive change 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 currently 27.14%.

Analysts Set New Price Targets

GRC has been the topic of several recent research reports. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Insider Activity

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

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.