General Motors (NYSE:GM) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,288 shares of the auto manufacturer’s stock after selling 30,827 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Motors were worth $8,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Maverick Capital Ltd. grew its holdings in shares of General Motors by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 23,428 shares of the auto manufacturer’s stock worth $1,051,000 after acquiring an additional 1,488 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Vinva Investment Management Ltd raised its stake in shares of General Motors by 20.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 74,114 shares of the auto manufacturer’s stock worth $3,445,000 after buying an additional 12,771 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of General Motors by 11.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 46,744 shares of the auto manufacturer’s stock worth $2,096,000 after buying an additional 4,700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in General Motors by 1.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 236,167 shares of the auto manufacturer’s stock valued at $10,590,000 after acquiring an additional 2,517 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last ninety days. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 0.2 %

Shares of NYSE GM opened at $55.59 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $61.13 billion, a PE ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The firm has a fifty day moving average of $51.56 and a 200-day moving average of $48.10. General Motors has a 52-week low of $31.52 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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 firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 earnings per share. On average, analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors’s payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. DZ Bank lowered 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. The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $56.92.

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.