42,044 Shares in General Motors (NYSE:GM) Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,044 shares of the auto manufacturer’s stock, valued at approximately $1,953,000.

A number of other large investors have also recently bought and sold shares of GM. Commonwealth Financial Services LLC acquired a new stake in shares of General Motors during the 2nd quarter worth approximately $204,000. EverSource Wealth Advisors LLC grew its holdings in shares of General Motors by 21.0% during the second quarter. EverSource Wealth Advisors LLC now owns 7,818 shares of the auto manufacturer’s stock worth $346,000 after purchasing an additional 1,358 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of General Motors in the second quarter valued at approximately $36,000. 1832 Asset Management L.P. raised its holdings in General Motors by 2.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 61,576 shares of the auto manufacturer’s stock valued at $2,861,000 after buying an additional 1,566 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $220,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. UBS Group raised their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upped their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.92.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

Shares of GM stock opened at $46.48 on Monday. 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 $46.02 and a two-hundred day simple moving average of $45.55. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The firm has a market capitalization of $53.03 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s payout ratio is 5.87%.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.