8,787 Magna International Inc. $MGA Shares Sold by BCV Asset Management Inc.

BCV Asset Management Inc. lessened its holdings in Magna International Inc. (NYSE:MGA) (TSE:MG) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 953,350 shares of the company’s stock after selling 8,787 shares during the quarter. Magna International makes up 1.9% of BCV Asset Management Inc.’s holdings, making the stock its 25th largest holding. BCV Asset Management Inc.’s holdings in Magna International were worth $61,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGA. Oslo Pensjonsforsikring AS purchased a new stake in shares of Magna International during the first quarter valued at $45,000. Versant Capital Management Inc grew its holdings in shares of Magna International by 53.9% in the third quarter. Versant Capital Management Inc now owns 1,171 shares of the company’s stock worth $75,000 after purchasing an additional 410 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Magna International by 115.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,675 shares of the company’s stock worth $93,000 after purchasing an additional 896 shares during the last quarter. Jacobi Capital Management LLC bought a new position in shares of Magna International in the third quarter worth about $157,000. Finally, Parallel Advisors LLC increased its stake in Magna International by 9.1% in the 1st quarter. Parallel Advisors LLC now owns 3,299 shares of the company’s stock worth $184,000 after buying an additional 275 shares during the period. Hedge funds and other institutional investors own 67.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGA shares. Wall Street Zen lowered shares of Magna International from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Wells Fargo & Company boosted their price objective on shares of Magna International from $62.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of Magna International from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, October 9th. Royal Bank Of Canada reduced their target price on shares of Magna International from $68.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Monday, November 2nd. Finally, Canadian Imperial Bank of Commerce lowered shares of Magna International from an “outperformer” rating to a “hold” rating and reduced their target price for the stock from $78.00 to $70.00 in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.33.

Magna International Stock Performance

Shares of Magna International stock opened at $61.73 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $64.30 and its 200-day moving average price is $63.08. The firm has a market cap of $15.95 billion, a P/E ratio of 8.60, a P/E/G ratio of 0.67 and a beta of 1.46. Magna International Inc. has a 12 month low of $45.33 and a 12 month high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings data on Friday, October 30th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.25. Magna International had a net margin of 1.99% and a return on equity of 16.26%. The company had revenue of $9.86 billion during the quarter, compared to analyst estimates of $10.01 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that Magna International Inc. will post 7.07 earnings per share for the current fiscal year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.4950 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.98 annualized dividend and a dividend yield of 3.2%. Magna International’s payout ratio is currently 63.46%.

Magna International Company Profile

Magna International is a Canadian mobility technology supplier that designs and manufactures components, systems and complete vehicles for automakers. Its products and services support a range of vehicle types, including those with electric and advanced driver-assistance technologies. The company’s operations include body and exterior systems, seating, powertrain and electronics, as well as vehicle engineering and contract manufacturing. Its portfolio also includes products such as mirrors, lighting systems and roof systems.