General Motors (NYSE:GM) Stock Position Reduced by Nexus Investment Management ULC

Nexus Investment Management ULC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 551,327 shares of the auto manufacturer’s stock after selling 54,025 shares during the quarter. General Motors comprises approximately 2.9% of Nexus Investment Management ULC’s holdings, making the stock its 15th biggest position. Nexus Investment Management ULC’s holdings in General Motors were worth $29,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the 2nd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors during the 3rd quarter worth about $27,000. Eastern Bank acquired a new position in shares of General Motors during the 3rd quarter valued at about $34,000. Finally, Fairscale Capital LLC bought a new position in shares of General Motors in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Wells Fargo & Company decreased their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, December 16th. UBS Group raised their target price on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday. Wedbush upped their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.68.

General Motors Stock Performance

NYSE:GM opened at $50.90 on Friday. The firm has a market capitalization of $55.97 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The firm has a 50-day moving average price of $53.60 and a 200 day moving average price of $49.62.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 EPS. Research analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.94%. General Motors’s payout ratio is presently 5.12%.

About General Motors

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.