PVG Asset Management Corp Buys Shares of 13,580 Gorman-Rupp Company (The) $GRC

Key Points

• PVG Asset Management initiated a 13,580-share position in Gorman-Rupp during the first quarter, valued at approximately $844,000. Institutional investors collectively own 59.26% of the company.
• Analyst sentiment is broadly positive, with Gorman-Rupp receiving an average “Buy” rating; recent firms upgraded the stock to “Strong Buy,” while one downgraded its rating to “Buy.”
• Gorman-Rupp reported quarterly EPS of $0.74, exceeding expectations of $0.70, on revenue of $186.07 million. The company also declared a quarterly dividend of $0.19 per share, representing a 0.9% annualized yield.

PVG Asset Management Corp bought a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,580 shares of the industrial products company's stock, valued at approximately $844,000. PVG Asset Management Corp owned about 0.05% of Gorman-Rupp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Gorman-Rupp by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company's stock valued at $39,655,000 after purchasing an additional 564,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Gorman-Rupp by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company's stock worth $34,985,000 after purchasing an additional 15,178 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Gorman-Rupp by 0.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company's stock worth $28,627,000 after purchasing an additional 2,970 shares during the last quarter. First Trust Advisors LP lifted its stake in Gorman-Rupp by 326.1% in the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company's stock valued at $32,581,000 after buying an additional 401,340 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company's stock valued at $18,778,000 after buying an additional 276,101 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GRC. Weiss Ratings downgraded Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, June 12th. Wall Street Zen upgraded Gorman-Rupp from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 2nd. Zacks Research raised Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Finally, Freedom Capital raised Gorman-Rupp to a "hold" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Gorman-Rupp has an average rating of "Buy".

Gorman-Rupp Stock Performance

Shares of GRC opened at $81.55 on Monday. Gorman-Rupp Company has a 1 year low of $39.64 and a 1 year high of $92.78. The company's 50 day simple moving average is $81.61 and its 200 day simple moving average is $70.61. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.34 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The firm had revenue of $186.07 million during the quarter, compared to analysts' expectations of $188.89 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. On average, sell-side analysts predict that Gorman-Rupp Company will post 2.67 EPS for the current year.

Gorman-Rupp Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, August 14th. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. Gorman-Rupp's dividend payout ratio (DPR) is 32.07%.

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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