Quantbot Technologies LP Acquires 79,133 Shares of Magna International Inc. $MGA

Quantbot Technologies LP increased its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 65.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 199,899 shares of the company’s stock after buying an additional 79,133 shares during the quarter. Quantbot Technologies LP’s holdings in Magna International were worth $9,471,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its position in Magna International by 19.8% in the first quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company’s stock valued at $231,000 after acquiring an additional 1,123 shares during the period. Farther Finance Advisors LLC boosted its position in Magna International by 98.4% in the third quarter. Farther Finance Advisors LLC now owns 2,839 shares of the company’s stock valued at $134,000 after buying an additional 1,408 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Magna International by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company’s stock worth $9,828,000 after buying an additional 2,057 shares during the last quarter. Steph & Co. boosted its holdings in shares of Magna International by 51.6% in the 3rd quarter. Steph & Co. now owns 6,578 shares of the company’s stock worth $312,000 after acquiring an additional 2,240 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd boosted its holdings in shares of Magna International by 21.0% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 20,686 shares of the company’s stock worth $980,000 after acquiring an additional 3,596 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MGA shares. Morgan Stanley raised their price target on Magna International from $54.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Wells Fargo & Company raised their target price on Magna International from $50.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Citigroup lifted their price target on Magna International from $49.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 14th. TD Securities increased their price objective on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Evercore boosted their target price on shares of Magna International from $47.00 to $52.00 and gave the stock an “in-line” rating in a research note on Monday, November 24th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.73.

Magna International Stock Down 1.8%

Shares of NYSE:MGA opened at $62.97 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.25 and a quick ratio of 0.87. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 21.34 and a beta of 1.50. The company has a 50 day moving average of $56.87 and a 200-day moving average of $50.66. Magna International Inc. has a one year low of $30.39 and a one year high of $69.94.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, February 13th. The company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.37. Magna International had a net margin of 1.99% and a return on equity of 12.73%. The firm had revenue of $10.74 billion for the quarter, compared to analysts’ expectations of $10.54 billion. During the same period last year, the firm earned $1.69 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. On average, sell-side analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Magna International’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, February 27th. Magna International’s payout ratio is presently 65.76%.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.