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

Nexus Investment Management ULC increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 605,352 shares of the auto manufacturer’s stock after purchasing an additional 4,685 shares during the quarter. General Motors makes up approximately 2.7% of Nexus Investment Management ULC’s holdings, making the stock its 19th largest holding. Nexus Investment Management ULC owned about 0.05% of General Motors worth $27,144,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital World Investors boosted its position in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp boosted its position in General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. LSV Asset Management boosted its position in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC boosted its position in General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after acquiring an additional 492,693 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $47.87 on Wednesday. The firm has a market cap of $54.62 billion, a PE ratio of 5.85, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a fifty day simple moving average of $46.59 and a two-hundred day simple moving average of $45.85. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. On average, equities analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

Analyst Ratings Changes

Several research firms have weighed in on GM. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. UBS Group boosted their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.35.

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.