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.
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.
Want to see what other hedge funds are holding GRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gorman-Rupp Co (NYSEMKT:GRC).