Janus Henderson Group PLC Reduces Holdings in Gorman-Rupp Company (The) $GRC

Janus Henderson Group PLC lessened its position in shares of Gorman-Rupp Company (The) (NYSE:GRC) by 73.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 have also recently added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in Gorman-Rupp during the fourth quarter worth $31,000. NewEdge Advisors LLC lifted its stake in shares of Gorman-Rupp by 130.7% in the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 379 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of Gorman-Rupp by 125.0% in the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 939 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 1,180 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Gorman-Rupp during the 1st quarter worth $89,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRC has been the topic of several research analyst reports. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Gorman-Rupp Trading Down 2.7%

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

Gorman-Rupp (NYSE:GRC) last announced its earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.88% and a return on equity of 15.55%. Equities research analysts anticipate that Gorman-Rupp Company will post 2.67 EPS for the current fiscal year.

Gorman-Rupp Announces Dividend

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