Nexus Investment Management Inc. Increases Stake in General Motors (GM)

Nexus Investment Management Inc. lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 406,465 shares of the auto manufacturer’s stock after purchasing an additional 4,100 shares during the quarter. General Motors comprises 2.4% of Nexus Investment Management Inc.’s portfolio, making the stock its 21st largest position. Nexus Investment Management Inc.’s holdings in General Motors were worth $13,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in GM. Capital Research Global Investors acquired a new stake in shares of General Motors during the 3rd quarter worth approximately $480,782,000. Capital World Investors lifted its position in General Motors by 15.4% in the 3rd quarter. Capital World Investors now owns 83,910,382 shares of the auto manufacturer’s stock valued at $2,825,263,000 after acquiring an additional 11,218,495 shares in the last quarter. Franklin Resources Inc. lifted its position in General Motors by 38.9% in the 3rd quarter. Franklin Resources Inc. now owns 27,084,102 shares of the auto manufacturer’s stock valued at $911,922,000 after acquiring an additional 7,578,850 shares in the last quarter. Vanguard Group Inc. lifted its position in General Motors by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 96,849,509 shares of the auto manufacturer’s stock valued at $3,260,923,000 after acquiring an additional 2,699,178 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in General Motors by 2.9% in the 3rd quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer’s stock valued at $3,260,923,000 after acquiring an additional 2,699,178 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of General Motors from $60.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Morgan Stanley upped their target price on shares of General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 6th. ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. BMO Capital Markets upped their target price on shares of General Motors to $47.00 and gave the company an “outperform” rating in a report on Monday. Finally, Barclays set a $48.00 target price on shares of General Motors and gave the company a “buy” rating in a report on Friday, January 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $45.50.

GM traded up $0.62 on Monday, reaching $37.80. The company had a trading volume of 735,788 shares, compared to its average volume of 12,828,623. General Motors has a fifty-two week low of $30.56 and a fifty-two week high of $45.52. The firm has a market cap of $49.65 billion, a P/E ratio of 5.71, a price-to-earnings-growth ratio of 0.70 and a beta of 1.22. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.89.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. General Motors had a net margin of 0.56% and a return on equity of 25.81%. The business had revenue of $35.79 billion for the quarter, compared to analyst estimates of $34.85 billion. During the same quarter in the prior year, the business earned $1.32 EPS. General Motors’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 6.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 20th. Shareholders of record on Friday, December 7th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.02%. General Motors’s payout ratio is presently 22.96%.

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About General Motors

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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