PNC Financial Services Group Inc. Acquires 4,108 Shares of Gorman-Rupp Company (The) (NYSE:GRC)

PNC Financial Services Group Inc. boosted its holdings in Gorman-Rupp Company (The) (NYSE:GRC) by 73.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,716 shares of the industrial products company’s stock after buying an additional 4,108 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Gorman-Rupp were worth $341,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Fifth Third Bancorp acquired a new stake in Gorman-Rupp during the 1st quarter valued at approximately $45,000. Central Pacific Bank Trust Division acquired a new stake in Gorman-Rupp during the 1st quarter valued at approximately $53,000. Aquatic Capital Management LLC increased its position in Gorman-Rupp by 46.2% during the 4th quarter. Aquatic Capital Management LLC now owns 4,239 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 1,339 shares during the period. Swisher Financial Concepts Inc. acquired a new stake in Gorman-Rupp during the 1st quarter valued at approximately $205,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gorman-Rupp during the 1st quarter valued at approximately $221,000. Institutional investors own 59.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 25th.

Gorman-Rupp Price Performance

Shares of NYSE:GRC opened at $41.31 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $38.55 and its two-hundred day simple moving average is $37.26. Gorman-Rupp Company has a 1-year low of $30.87 and a 1-year high of $43.79. The stock has a market cap of $1.09 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.59 and a beta of 1.21.

Gorman-Rupp (NYSE:GRC) last released its earnings results on Friday, July 25th. The industrial products company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $179.05 million for the quarter, compared to analysts’ expectations of $174.60 million. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%. As a group, analysts forecast that Gorman-Rupp Company will post 1.98 EPS for the current fiscal year.

Gorman-Rupp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 15th. Gorman-Rupp’s payout ratio is currently 37.56%.

Gorman-Rupp Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.