Huber Capital Management LLC Makes New Investment in General Motors (NYSE:GM)

Huber Capital Management LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 146,035 shares of the auto manufacturer’s stock, valued at approximately $6,785,000. General Motors accounts for 1.5% of Huber Capital Management LLC’s holdings, making the stock its 19th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LifeSteps Financial Inc. bought a new position in General Motors in the 1st quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC increased its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the first quarter worth $30,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GM shares. UBS Group raised their price target on General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Wells Fargo & Company cut their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Finally, Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.27.

General Motors Price Performance

Shares of NYSE GM opened at $48.88 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock has a market capitalization of $55.77 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.52 and a beta of 1.43. The company’s 50-day moving average is $46.28 and its 200 day moving average is $45.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $45.13 billion. During the same period in the previous year, the firm posted $1.91 EPS. The business’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

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.