Waterloo Capital L.P. Takes Position in General Motors (NYSE:GM)

Waterloo Capital L.P. bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,256 shares of the auto manufacturer’s stock, valued at approximately $244,000.

Other large investors have also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new position in shares of General Motors during the 1st quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. purchased a new stake in General Motors in the 1st quarter worth approximately $30,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of General Motors during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.1 %

Shares of NYSE GM opened at $48.62 on Friday. The stock has a market cap of $55.47 billion, a PE ratio of 5.94, a P/E/G ratio of 0.52 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The company has a 50-day moving average of $46.28 and a 200 day moving average of $45.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group raised their target price on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.27.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was 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 disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

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.