General Motors (NYSE:GM) Stock Position Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,732,489 shares of the auto manufacturer’s stock after purchasing an additional 253,461 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.17% of General Motors worth $92,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GM. Virtu Financial LLC lifted its stake in General Motors by 770.3% in the third quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer’s stock valued at $4,442,000 after buying an additional 87,672 shares during the last quarter. Te Ahumairangi Investment Management Ltd increased its holdings in shares of General Motors by 6.6% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer’s stock worth $4,490,000 after acquiring an additional 6,200 shares during the period. World Investment Advisors LLC bought a new stake in General Motors in the 3rd quarter valued at about $237,000. Wilmington Savings Fund Society FSB bought a new position in General Motors in the 3rd quarter worth about $1,907,000. Finally, Tidal Investments LLC grew its position in General Motors by 44.7% in the 3rd quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer’s stock worth $2,932,000 after purchasing an additional 20,206 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of GM stock opened at $44.55 on Friday. The stock’s fifty day simple moving average is $47.14 and its 200-day simple moving average is $50.29. The company has a market capitalization of $44.32 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GM. The Goldman Sachs Group reduced their price objective on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler raised their price target on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $50.00 to $35.00 in a research note on Monday, April 7th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, Cowen began coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating for the company. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $56.72.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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.