Magna International Inc. $MGA Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 10.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,130,562 shares of the company’s stock after purchasing an additional 206,433 shares during the period. TD Waterhouse Canada Inc. owned about 0.80% of Magna International worth $134,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGA. Hillsdale Investment Management Inc. boosted its position in shares of Magna International by 2.3% during the fourth quarter. Hillsdale Investment Management Inc. now owns 725,425 shares of the company’s stock worth $38,741,000 after buying an additional 16,255 shares during the period. Plato Investment Management Ltd raised its holdings in shares of Magna International by 74.5% in the 4th quarter. Plato Investment Management Ltd now owns 69,752 shares of the company’s stock valued at $3,741,000 after buying an additional 29,785 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Magna International by 43.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 199,358 shares of the company’s stock valued at $11,095,000 after buying an additional 60,432 shares during the period. Mediolanum International Funds Ltd lifted its stake in Magna International by 83.1% during the 1st quarter. Mediolanum International Funds Ltd now owns 134,736 shares of the company’s stock worth $7,210,000 after acquiring an additional 61,151 shares in the last quarter. Finally, Kendall Capital Management acquired a new position in Magna International during the 2nd quarter worth about $1,176,000. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MGA shares. Wells Fargo & Company lifted their target price on Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Citigroup increased their price target on shares of Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Magna International from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Barclays upped their target price on shares of Magna International from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Finally, Morgan Stanley increased their target price on shares of Magna International from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.20.

Magna International Price Performance

MGA stock opened at $67.10 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The firm has a market capitalization of $17.77 billion, a P/E ratio of 24.31, a P/E/G ratio of 0.70 and a beta of 1.45. The business’s 50-day moving average is $67.17 and its two-hundred day moving average is $63.40. Magna International Inc. has a 1 year low of $43.11 and a 1 year high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, July 31st. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.33. Magna International had a return on equity of 15.04% and a net margin of 1.80%.The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.700-7.300 EPS. Analysts anticipate that Magna International Inc. will post 7.06 earnings per share for the current fiscal year.

Magna International Dividend Announcement

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

Magna International Company 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.