BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 24,929 Shares of General Motors (NYSE:GM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,217 shares of the auto manufacturer's stock after purchasing an additional 24,929 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in General Motors were worth $11,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in General Motors in the fourth quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors in the 4th quarter worth $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors in the 4th quarter worth $27,000. Duncker Streett & Co. Inc. lifted its position in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of NYSE:GM traded up $0.33 during mid-day trading on Tuesday, reaching $49.02. The stock had a trading volume of 4,402,533 shares, compared to its average volume of 13,325,442. 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. The business's 50 day moving average price is $46.96 and its 200 day moving average price is $49.82. The company has a market cap of $47.13 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.62 earnings per share. Research analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. General Motors's dividend payout ratio is currently 8.65%.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Barclays raised their target price on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Wall Street Zen lowered shares of General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $54.56.

General Motors 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.