The Spark Investment Management LLC Maintains Position in Gorman-Rupp Co (GRC)

The Spark Investment Management LLC Maintains Position in Gorman-Rupp Co (GRC)

Spark Investment Management LLC continued to hold its stake in Gorman-Rupp Co (NYSEMKT:GRC) during the third quarter, Holdings Channel reports. The firm owned 16,100 shares of the company’s stock at the end of the third quarter. Spark Investment Management LLC owned approximately 0.06% of Gorman-Rupp worth $412,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GRC. First Quadrant L P CA acquired a new stake in shares of Gorman-Rupp during the third quarter valued at $205,000. Wells Fargo & Company MN increased its stake in shares of Gorman-Rupp by 8.6% in the third quarter. Wells Fargo & Company MN now owns 8,547 shares of the company’s stock valued at $219,000 after buying an additional 676 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Gorman-Rupp during the third quarter valued at $219,000. Paloma Partners Management Co acquired a new stake in shares of Gorman-Rupp during the second quarter valued at $221,000. Finally, BlackRock Advisors LLC increased its stake in shares of Gorman-Rupp by 10.4% in the third quarter. BlackRock Advisors LLC now owns 9,316 shares of the company’s stock valued at $239,000 after buying an additional 879 shares during the last quarter.

Shares of Gorman-Rupp Co (NYSEMKT:GRC) traded up 0.58% on Wednesday, hitting $31.18. 17,498 shares of the stock traded hands. The firm has a market cap of $813.52 million, a P/E ratio of 32.34 and a beta of 1.13. Gorman-Rupp Co has a 12-month low of $21.09 and a 12-month high of $34.45. The firm’s 50-day moving average is $31.80 and its 200 day moving average is $27.86.

Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The business earned $91.30 million during the quarter, compared to analysts’ expectations of $102.10 million. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast that Gorman-Rupp Co will post $0.99 EPS for the current fiscal year.

Several brokerages recently weighed in on GRC. Sidoti began coverage on shares of Gorman-Rupp in a research note on Tuesday, September 20th. They set a “neutral” rating and a $30.00 target price on the stock. Zacks Investment Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Eight equities research analysts have rated the stock with a hold rating, Gorman-Rupp currently has a consensus rating of “Hold” and a consensus price target of $17.90.

In other news, insider Ronald D. Pittenger sold 3,104 shares of Gorman-Rupp stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $29.96, for a total transaction of $92,995.84. Following the sale, the insider now owns 3,696 shares in the company, valued at $110,732.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher H. Lake sold 2,000 shares of Gorman-Rupp stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $26.45, for a total transaction of $52,900.00. The disclosure for this sale can be found here.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.

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