Public Employees Retirement System of Ohio Invests $9.16 Million in Magna International Inc. $MGA

Public Employees Retirement System of Ohio acquired a new stake in shares of Magna International Inc. (NYSE:MGA) (TSE:MG) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 139,357 shares of the company’s stock, valued at approximately $9,160,000.

Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in Magna International by 35.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 779 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares in the last quarter. 1620 Investment Advisors Inc. boosted its position in shares of Magna International by 2.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 8,232 shares of the company’s stock worth $439,000 after purchasing an additional 215 shares during the period. Van ECK Associates Corp increased its stake in shares of Magna International by 2.6% in the fourth quarter. Van ECK Associates Corp now owns 9,114 shares of the company’s stock worth $486,000 after purchasing an additional 235 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Magna International by 1.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,241 shares of the company’s stock worth $675,000 after purchasing an additional 246 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Magna International by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock valued at $184,000 after purchasing an additional 275 shares during the period. 67.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD lifted their target price on shares of Magna International from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Scotiabank increased their price target on Magna International from $74.00 to $78.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 3rd. Morgan Stanley raised their price target on Magna International from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Royal Bank Of Canada boosted their price objective on Magna International from $66.00 to $69.00 and gave the company a “sector perform” rating in a research report on Monday, August 3rd. Finally, UBS Group upped their price objective on Magna International from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Magna International has an average rating of “Hold” and an average price target of $68.20.

Magna International Stock Performance

MGA opened at $65.57 on Tuesday. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 0.71 and a beta of 1.44. The company has a fifty day moving average of $67.12 and a 200 day moving average of $63.31. Magna International Inc. has a fifty-two week low of $43.11 and a fifty-two week high of $73.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.53 by $0.33. Magna International had a net margin of 1.80% and a return on equity of 15.04%. The business had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. As a group, sell-side analysts forecast that Magna International Inc. will post 7.07 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 14th. Magna International’s payout ratio is currently 71.74%.

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.