Nexus Investment Management ULC Raises Position in General Motors (NYSE:GM)

Nexus Investment Management ULC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 615,127 shares of the auto manufacturer’s stock after purchasing an additional 7,880 shares during the period. General Motors accounts for approximately 2.6% of Nexus Investment Management ULC’s portfolio, making the stock its 23rd largest position. Nexus Investment Management ULC’s holdings in General Motors were worth $23,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GM. Schechter Investment Advisors LLC increased its position in General Motors by 3.2% during the 4th quarter. Schechter Investment Advisors LLC now owns 8,578 shares of the auto manufacturer’s stock valued at $289,000 after purchasing an additional 269 shares during the period. Weik Capital Management raised its stake in General Motors by 3.1% in the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock worth $397,000 after buying an additional 275 shares in the last quarter. RFG Advisory LLC lifted its holdings in General Motors by 5.4% in the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock worth $227,000 after buying an additional 281 shares during the period. Penserra Capital Management LLC boosted its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of General Motors by 2.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock worth $557,000 after acquiring an additional 294 shares during the period. Hedge funds and other institutional investors own 79.62% of the company’s stock.

General Motors Stock Up 1.7 %

NYSE GM traded up $0.58 during trading on Friday, reaching $34.24. 4,513,149 shares of the company’s stock traded hands, compared to its average volume of 14,106,852. General Motors has a 12-month low of $31.10 and a 12-month high of $43.63. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 0.96. The firm has a market cap of $47.11 billion, a price-to-earnings ratio of 4.70, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. The company’s 50 day simple moving average is $35.93 and its two-hundred day simple moving average is $35.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $44.75 billion for the quarter, compared to the consensus estimate of $42.13 billion. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. As a group, sell-side analysts forecast that General Motors will post 7.59 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Friday, September 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, August 31st. General Motors’s dividend payout ratio is currently 5.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. Barclays boosted their price objective on shares of General Motors from $42.00 to $46.00 in a research note on Monday, July 10th. Mizuho reduced their price objective on General Motors to $40.00 in a research report on Wednesday, July 19th. The Goldman Sachs Group boosted their target price on General Motors from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Citigroup lifted their price target on General Motors from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of General Motors in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average target price of $50.67.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $41.00, for a total transaction of $381,300.00. Following the sale, the president now owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.