Nexus Investment Management ULC Sells 54,025 Shares of General Motors (NYSE:GM)

Nexus Investment Management ULC lowered its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 551,327 shares of the auto manufacturer's stock after selling 54,025 shares during the quarter. General Motors comprises 2.9% of Nexus Investment Management ULC's portfolio, making the stock its 15th largest position. Nexus Investment Management ULC owned about 0.05% of General Motors worth $29,369,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP increased its stake in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock valued at $412,000 after purchasing an additional 205 shares during the last quarter. Avestar Capital LLC grew its stake in General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after buying an additional 213 shares during the last quarter. Continuum Advisory LLC increased its position in General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after buying an additional 213 shares during the period. Metis Global Partners LLC lifted its stake in General Motors by 0.6% in the third quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer's stock valued at $1,625,000 after buying an additional 230 shares during the last quarter. Finally, Centaurus Financial Inc. grew its position in shares of General Motors by 2.1% during the second quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer's stock worth $540,000 after acquiring an additional 238 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

GM stock traded down $0.94 during trading on Friday, reaching $50.90. 9,587,120 shares of the stock were exchanged, compared to its average volume of 8,082,761. The stock has a 50 day simple moving average of $53.60 and a 200-day simple moving average of $49.64. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $55.97 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. General Motors has a twelve month low of $34.32 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 EPS. As a group, sell-side analysts anticipate that General Motors will post 10.34 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were given 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 yield of 0.94%. General Motors's dividend payout ratio (DPR) is presently 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company's stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now owns 126,907 shares of the company's stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GM. Hsbc Global Res downgraded General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. DZ Bank cut shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Finally, Sanford C. Bernstein upped their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.68.

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.