Total Clarity Wealth Management Inc. Acquires New Shares in Gorman-Rupp Company (The) $GRC

Total Clarity Wealth Management Inc. acquired a new position in shares of Gorman-Rupp Company (The) (NYSE:GRC) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 7,600 shares of the industrial products company’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank bought a new position in Gorman-Rupp in the fourth quarter valued at about $31,000. NewEdge Advisors LLC grew its holdings in shares of Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 379 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 939 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Gorman-Rupp by 135.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,180 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Gorman-Rupp in the fourth quarter valued at approximately $100,000. Institutional investors and hedge funds own 59.26% of the company’s stock.

Wall Street Analyst Weigh In

GRC has been the subject of several recent research reports. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Gorman-Rupp Stock Performance

Shares of GRC stock opened at $86.61 on Wednesday. The stock has a market capitalization of $2.29 billion, a PE ratio of 38.84, a PEG ratio of 2.60 and a beta of 1.31. The business’s 50 day simple moving average is $76.34 and its 200 day simple moving average is $64.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76. Gorman-Rupp Company has a one year low of $36.16 and a one year high of $89.62.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.19. The firm had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. As a group, research analysts forecast that Gorman-Rupp Company will post 2.6 earnings per share for the current year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.19 per share. The ex-dividend date was Friday, May 15th. This represents a $0.76 annualized dividend and a dividend yield of 0.9%. Gorman-Rupp’s dividend payout ratio is 34.08%.

About Gorman-Rupp

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.