Vanguard Trims Gorman-Rupp Stake to 7.04%

TL;DR

**Vanguard cut its Gorman-Rupp stake to 7.04%, holding 1.85M shares as of Dec 29, 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its ownership stake in Gorman-Rupp Co/The (GRC) as of December 29, 2023. Vanguard reported holding 1,847,564 shares of Common Stock, representing 7.04% of the company's outstanding shares. This is a decrease from their previous reported ownership, signaling a slight reduction in their passive investment in the pump and pumping equipment manufacturer.

Why It Matters

This filing shows that a significant institutional investor, Vanguard, has slightly reduced its position in Gorman-Rupp, which could be interpreted by other investors as a minor shift in sentiment or a portfolio rebalancing.

Risk Assessment

Risk Level: low — This filing represents a passive ownership update from a large institutional investor and does not indicate any immediate or significant risk to the company or its stock.

Analyst Insight

Investors should note Vanguard's slight reduction in ownership, but given their passive investment strategy, this change is unlikely to signal a strong bullish or bearish outlook on Gorman-Rupp Co/The and is more likely a portfolio adjustment.

Key Numbers

• 1,847,564 — Shares Beneficially Owned (The total number of Gorman-Rupp Common Stock shares Vanguard holds.)
• 7.04% — Percentage of Class Outstanding (Vanguard's ownership percentage of Gorman-Rupp's Common Stock.)
• December 29, 2023 — Date of Event (The specific date on which Vanguard's reported ownership stake was calculated.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Gorman-Rupp Co/The (company) — subject company, manufacturer of pumps and pumping equipment
• 1,847,564 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.04% (dollar_amount) — percentage of class outstanding owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will continue to hold a significant, but passive, stake in Gorman-Rupp Co/The, likely adjusting its position based on index rebalancing rather than active management decisions. (The Vanguard Group) — high confidence, target: December 31, 2024

FAQ

Filing Documents

• tv01036-gormanruppcothe.htm (SC 13G/A) — 11KB
• 0001104659-24-021038.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Gorman-Rupp Co/The

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 600 South Airport Road Mansfield, OH 44903

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 383082104

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR