Gorman-Rupp Company (The) $GRC Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson cut its Gorman-Rupp stake by 73.7% in the first quarter, selling 25,577 shares and retaining 9,114 shares valued at approximately $567,000. Institutional investors and hedge funds collectively own 59.26% of GRC.
• Gorman-Rupp reported quarterly EPS of $0.74, beating the $0.70 analyst consensus, while revenue of $186.07 million fell short of the $188.89 million estimate. Analysts expect full-year EPS of $2.67.
• The company declared a quarterly dividend of $0.19 per share, equivalent to $0.76 annually and a 0.9% yield. GRC shares opened at $81.54, and the stock carries a current consensus rating of “Buy.”

Janus Henderson Group PLC lessened its stake in Gorman-Rupp Company (The) (NYSE:GRC - Free Report) by 73.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,114 shares of the industrial products company's stock after selling 25,577 shares during the quarter. Janus Henderson Group PLC's holdings in Gorman-Rupp were worth $567,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Gorman-Rupp by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company's stock valued at $9,888,000 after purchasing an additional 25,033 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Gorman-Rupp by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company's stock worth $2,278,000 after purchasing an additional 7,667 shares in the last quarter. Jane Street Group LLC raised its position in shares of Gorman-Rupp by 203.0% during the 1st quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company's stock worth $1,702,000 after purchasing an additional 32,494 shares during the last quarter. Rhumbline Advisers raised its position in shares of Gorman-Rupp by 17.4% during the 2nd quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company's stock worth $1,354,000 after purchasing an additional 5,462 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Gorman-Rupp by 8.6% in the 2nd quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company's stock valued at $1,864,000 after buying an additional 4,020 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Gorman-Rupp Price Performance

GRC stock opened at $81.54 on Tuesday. Gorman-Rupp Company has a 1 year low of $40.74 and a 1 year high of $92.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82. The firm has a market capitalization of $2.15 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The business has a 50 day simple moving average of $82.71 and a 200-day simple moving average of $71.95.

Gorman-Rupp (NYSE:GRC - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. Equities research analysts anticipate that Gorman-Rupp Company will post 2.67 earnings per share for the current fiscal year.

Gorman-Rupp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 14th. Gorman-Rupp's payout ratio is currently 32.07%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research upgraded Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Freedom Capital upgraded Gorman-Rupp to a "hold" rating in a research report on Monday, May 18th. Weiss Ratings lowered Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, June 12th. Finally, Wall Street Zen cut Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

Gorman-Rupp Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.

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