Huber Capital Management LLC Trims Holdings in General Motors (NYSE:GM)

Huber Capital Management LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 22.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,735 shares of the auto manufacturer’s stock after selling 63,000 shares during the quarter. General Motors makes up about 2.3% of Huber Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Huber Capital Management LLC’s holdings in General Motors were worth $11,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock valued at $1,559,380,000 after acquiring an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after buying an additional 176,436 shares in the last quarter. Norges Bank purchased a new position in General Motors during the 4th quarter valued at approximately $592,321,000. ACR Alpine Capital Research LLC raised its holdings in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after acquiring an additional 2,104,528 shares in the last quarter. Finally, Amundi boosted its position in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 1.5 %

Shares of NYSE:GM opened at $47.99 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $47.75 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.67 and a beta of 1.42. The business’s 50-day moving average is $48.58 and its 200 day moving average is $50.60. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.00%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GM. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group set a $73.00 target price on General Motors in a research report on Saturday, March 1st. JPMorgan Chase & Co. lowered their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Piper Sandler boosted their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $62.11.

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.