Federation des caisses Desjardins du Quebec Increases Stake in General Motors Company $GM

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in General Motors by 19.2%, owning 157,145 shares valued at approximately $7.39 million after acquiring an additional 25,321 shares during the 1st quarter.
• General Motors reported earnings per share of $2.53 for the quarter, slightly beating analysts' expectations, while revenue of $47.12 billion also surpassed forecasts.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized dividend yield of 1.0%, with the payout scheduled for September 18th.

Federation des caisses Desjardins du Quebec grew its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,145 shares of the auto manufacturer's stock after acquiring an additional 25,321 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in General Motors were worth $7,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after buying an additional 6,395,375 shares during the period. Nuveen LLC purchased a new position in General Motors in the 1st quarter worth about $175,889,000. Assenagon Asset Management S.A. increased its stake in General Motors by 305.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after buying an additional 1,910,186 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in General Motors in the 1st quarter worth about $86,900,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a report on Friday, July 11th. UBS Group increased their target price on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wedbush increased their target price on shares of General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, CLSA upgraded shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of "Hold" and a consensus target price of $58.05.

General Motors Stock Down 1.4%

NYSE:GM opened at $57.74 on Thursday. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The stock has a market capitalization of $54.97 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The company's 50-day simple moving average is $54.11 and its 200-day simple moving average is $49.79.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period last year, the business earned $3.06 EPS. The company's revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,070,311 shares of company stock valued at $62,095,433 in the last three months. 0.54% of the stock is owned by 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.

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