Fairfax Financial Holdings Ltd Can Buys New Holdings in General Motors (GM)

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Fairfax Financial Holdings Ltd Can bought a new position in General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 80,465 shares of the auto manufacturer’s stock, valued at approximately $3,170,000. General Motors makes up approximately 0.2% of Fairfax Financial Holdings Ltd Can’s portfolio, making the stock its 13th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in GM. BlackRock Inc. raised its stake in shares of General Motors by 1.4% in the first quarter. BlackRock Inc. now owns 78,008,491 shares of the auto manufacturer’s stock worth $2,834,827,000 after purchasing an additional 1,086,199 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of General Motors by 13.7% in the first quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock worth $903,943,000 after purchasing an additional 3,005,964 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Motors by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 14,890,898 shares of the auto manufacturer’s stock worth $586,820,000 after purchasing an additional 81,468 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of General Motors by 20.0% in the second quarter. Bank of New York Mellon Corp now owns 14,355,956 shares of the auto manufacturer’s stock worth $565,624,000 after purchasing an additional 2,394,922 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of General Motors by 4.9% in the second quarter. LSV Asset Management now owns 11,743,616 shares of the auto manufacturer’s stock worth $462,698,000 after purchasing an additional 543,631 shares during the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

NYSE:GM opened at $35.29 on Thursday. General Motors has a 52-week low of $34.50 and a 52-week high of $46.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.88 and a quick ratio of 0.74. The stock has a market cap of $50.86 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 0.74 and a beta of 1.56.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, July 25th. The auto manufacturer reported $1.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.03. General Motors had a positive return on equity of 23.39% and a negative net margin of 3.26%. The business had revenue of $36.80 billion during the quarter, compared to analyst estimates of $36.62 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. General Motors’s revenue for the quarter was down .5% on a year-over-year basis. equities research analysts predict that General Motors will post 5.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, September 6th. General Motors’s dividend payout ratio is presently 22.96%.

A number of research firms recently commented on GM. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research report on Wednesday. ValuEngine cut General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley reduced their price objective on General Motors from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, August 17th. JPMorgan Chase & Co. reduced their price objective on General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $39.00 price objective on shares of General Motors in a research report on Friday, July 27th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. General Motors currently has a consensus rating of “Hold” and a consensus price target of $47.02.

General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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